“My Debts Are Manageable… I Need Time.”

This is a statement we’ve heard time and time again.  If you have serious debts that you’re struggling with, but think that they can be paid off if you just had enough time and restructuring, then Chapter 13 might be right for you.  It’s worth mentioning a few details about Chapter 13, and why this form of bankruptcy might be the smart choice.

Chapter 13 Need to Know

Chapter 13 differs from liquidation forms of bankruptcy (e.g. Chapter 7) in that you still retain all of your assets.  Chapter 13 simply allows for a serious restructuring of your debts.  Essentially, it’s debt consolidation like you’ve never seen before!

If you have an income, Chapter 13 is a great way to make the most of it.  Also, it should be pointed out that if you have a home that’s under threat of foreclosure, you can prevent the foreclosure by filing for Chapter 13 bankruptcy.

Many people operate under the false assumption that filing for bankruptcy means losing everything that you have.  While this isn’t even true of liquidation bankruptcy, it’s especially not true of Chapter 13.  If you’re struggling to pay your debts, but believe that repayment is a very manageable task with the right restructuring and timeframe, then Chapter 13 is a great option to further explore.

Talk to a trusted bankruptcy attorney about how bankruptcy might help you successfully begin the next era of your life!  You deserve freedom; with Chapter 13 you can get it.