Are you struggling to pay your bills despite your still steady flow of income? Are you wondering if filing for bankruptcy is your best option? Are you unable to pay off your debts but still want to keep your house?
If so, filing for Chapter 13 bankruptcy should be a major consideration when dealing with the stress and complications involved in changing your financial future. Although Chapter 7 is now the most common form of bankruptcy, Chapter 13 is sometimes a preferred option among individuals and businesses.
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About Chapter 13
There are many positive results that are possible when granted Chapter 13 bankruptcy. These advantages may affect your decision on what debts to take regarding your finances. Benefits may make it possible to keep your house and car. You can also protect the co-signers on your loans from penalties and keep your tax refund check. The primary payment on Chapter 13 bankruptcy is also lower than chapter 7 and can make restarting your payments easier.
High debts translate into high bills that only get higher every month. Filing for chapter 13 bankruptcy will help you manage these bills. It can provide you the ability to pay only one payment a month while making progress in decreasing your debts. In addition, filers are protected by the Automatic Stay, which prevents creditors from pursuing payments after the debtor has completed his or her bankruptcy claim.
Recovering from the hardships of high debt can be a difficult process without help. Unfortunately the choices in the past do not go away, however, there are options when it comes to recovery.
Is Bankruptcy Right For You? Talk to Bankruptcy Attorneys Free and Confidential. Licensed bankruptcy attorneys are available. Attorneys will call you to discuss your case for free. Find out if bankruptcy is right for your situation.
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