ClickCease Which Bankruptcy Pill Do You Need? - Legal Facts

What if, one day, magic pills were invented to solve your bankruptcy problems? That would be great, right?

Specifically, four pills are invented to solve a certain type of bankruptcy problem. They are:

  • Blue Pill – it will automatically pay your mortgage in full!
  • Green Pill – your credit score will rise up to 850 just by swallowing it!
  • Yellow Pill – wipe those student loans away in just one take of this pill!
  • Red Pill – you will not lose any property because of your debts or bankruptcy cases!

If you face any of these problems, you probably really wished these pills are invented! But unfortunately, these pills aren’t invented and doesn’t exist. These magic pills are just that – magic and magic is fantasy!

But hey, if you’re wondering if you quality for bankruptcy, we have a free bankruptcy test to see if you do! Just click that orange button above and you’re good to go!

Although these magic pills don’t exist, we can give you tips on how to solve each of those bankruptcy problems and have you financially be back on track! In a way, the list that we are going to give you is probably the “pills” that you need! So read along and see our tips regarding each problem you probably face today.

The Blue Pill

If you’re a homeowner – especially if you own a lot of homes or properties – a mortgage is one of the financial burden you must carry through. Here are some tips to pay your mortgage faster:

#1 Make your home/property available for rent

This will make your properties income-generating, helping you pay off their mortgages rather than just you doing all the payment alone. If you’re not sure how to do it, you may want to try renting your home (or a space of it) through Airbnb.

Keep in mind you’re not working to be a real estate investor, so keep things as simple as possible. Learn the basics of rental management and just try to stay afloat while you pay your mortgage.

After this, who knows, you may want to fully venture on real estate business! But for now, if you choose this option, keep things simple.

#2 Switch to bi-weekly payments

The concept is very simple: bi-weekly payments mean you pay more on a timely basis, meaning you’ll pay your mortgage faster than your average monthly payment would.

Of course, this means allotting some of that extra money for your mortgage payment, but if you want to pay faster, simply pay more!

#3 Add a certain amount to your payments

Again, the concept is the same: to pay faster, pay more. Although it will take a lot from you in the beginning, the end result is worth it: it will reduce the time you need to pay your mortgage, hence you can recover relatively earlier than if you choose your standard payment method.


If you have any problems about saving and handling money, we have articles about that. Learn how to be debt-free and what habits to avoid (otherwise, you’ll lose money!) If you’re currently facing foreclosure, we also have an article for that!

The Green Pill

The most straightforward way to increase your credit score as fast as possible is through paying bills on time. The more you pay your debts on time, the more your score would increase. This applies even if you just recently came out from bankruptcy.

Another tip would be to not open any unnecessary credit cards as it will affect your score in multiple ways. For one, why open a new credit card? Also, this can also tempt you to overspend.

If you’re having problems over your debts and paying your credit card bills, be sure to check our article about that.

The Yellow Pill

There are two ways to solve your student loan problem: the hard way and the (relatively) easy way.

The Hard Way: Filing for Bankruptcy

Although we’ve championed bankruptcy as your saving grace when you can’t pay your debts anymore, this unfortunately rarely applies to student loans.

Student loans are often exempted from bankruptcy under the notion that it’s (your student loan) supposed to help you find a decent job and repay them.

However, if you can prove that you’re burdened too much by your student loan – which means you’re literally burdened by any loan, and by the way, this is hard to prove – then you can use bankruptcy to save you from your student loan. But again, that’s hard!

The (Relatively) Easy Way: Find Ways to Earn Income

There are two sides to this tip: if you’re just starting out on college and had decided to take up some student loans, it’s wise that you pick a degree with relatively high market value. This is where the dilemma of passion vs. income come into play: inasmuch as you like that art degree, it will not put you into jobs as much as a business or a STEM degree would.

If you’re in this situation, you only have 3 options:

  1. Choose a degree that you don’t like but will give you higher chances of being employed.
  2. Choose a degree that’s less marketable and find ways to earn from that craft, instead. Or,
  3. Skip college altogether (hence the student loans as well), learn your trade by yourself and on your own pace, saving you from student loans altogether.

If you have taken a student loan already (and let’s say you’ve finished your degree), your best bet is to find ways to earn additional income on the side. This may sound hard, but the good news is that there’s tons of opportunity to earn money on the side – thanks to the Internet!

To begin with, you don’t need to match your degree with the online job or business you’ll take in. You can explore your passions you’ve once suppressed!

As you can see, this is not as easy as it sounds, but this is certainly easier than taking the bankruptcy route! Once you’ve learned how to make money on the side, it’s up to you how to grow your income (or even change careers altogether!)

The Red Pill

This is on the assumption that you’re under a bankruptcy case or on a verge to one. Some helpful tips would be:

#1 Choose a bankruptcy Chapter that will help you restructure your payment plans

These Chapters are 11 and 13. They will secure your assets to you, at least for a while, as you restructure your payment plan. In this way, you can pay your debts while keeping your properties intact. Learn more about the different bankruptcy Chapters here.

#2 Hire the best bankruptcy lawyer!

A great bankruptcy lawyer will help you in the ins and outs of your case. He/she will fight to help you keep your assets while ensuring you successfully pay your debts – not to mention he/she may even lower your debt!

Keep in mind that asset liquidation is the final resort in most bankruptcy cases. Contrary to myths, creditors are not allowed to take your properties away from you or even chase you once you filed for bankruptcy!


Those are the pills you need! If you need any legal help, again, don’t forget to find a bankruptcy lawyer for your case!

Also, be sure to take our bankruptcy test by clicking that orange button above!