One of the biggest advantages to filing for Chapter 13 bankruptcy is to protect your home from foreclosure. The Chapter 13 plan allows you to resolve your missed or late mortgage payments without worrying about the threat of foreclosure. Although Chapter 13 allows you to get caught up in a payment you can afford, there  … Read more

Many people dealing with large debt burdens are attracted to the offer to settle their debts for “pennies on the dollar”. While debt settlement companies may be able to provide debt relief in this form, it often comes with some additional consequences that have yet to be considered. Chapter 13 Bankruptcy Many people are fearful  … Read more

A Chapter 13 bankruptcy is designed to allow debtors to repay their debts to creditors over time in a manner they can reasonably afford. To do this, the court uses the debtor’s financial details to determine how much they can afford to pay and which creditors will receive payment. Since the financial details are the  … Read more

Much of the appeal in filing for Chapter 13 bankruptcy over Chapter 7 comes from its ability to resolve secured loans. These loans leave the secured asset at risk of repossession or liquidation if the debtor defaults on the loan. However, a Chapter 13 case can both protect the asset and modify the loan to  … Read more

Credit card debt is one of the most common sources of debt brought into a bankruptcy filing. While most people who end up in Chapter 13 have an income sufficient for repayment of credit card debt, there are cases in which a debtor never pays unsecured creditors at all in Chapter 13. Debt Repayment The  … Read more

Debts are tricky business. Although debts can be beneficial to an extent, having too much debt or debt that cannot be repaid in a timely manner can quickly turn into a problem. While repaying debts is a responsibility, there are instances in which financial hardships result in the inability to satisfy this obligation. Chapter 13  … Read more

Protecting one’s home from foreclosure is a very important aspect to being in debt and experiencing financial hardships. No one wants to lose their home and many people begin to feel like their options are dwindling with each passing day. While most people understand that filing for bankruptcy could protect their home, few people have  … Read more

Each type of bankruptcy can produce similar outcomes, but each is also different in their own ways.  In general, there are several common questions asked by people pursuing each type of bankruptcy. Chapter 13 tends to carry the most mystery for filers as there is  more involved and required of the debtor in this type  … Read more

Filing for bankruptcy is the top choice for anyone deep in debt, but it can be the best solution for some. Depending on a person’s financial situation and previous history a bankruptcy can provide a better source of debt relief than other debt resolution methods. However, filing for Chapter 7 and Chapter 13 carries different  … Read more

The bankruptcy process is riddled with jargon and official terms that confuse many people. When seeking bankruptcy protection, getting to know these terms becomes important to the outcome of your case. If you are considering filing for Chapter 13 bankruptcy, you may be faced with several terms that are not part of the Chapter 7  … Read more