Benefits Of Filing For Chapter 13 Bankruptcy
If you are looking to discharge your debts, Chapter 13 bankruptcy may be
the right option for you. This debt-relief option allows you to repay
your debts over a period of 3 to 5 years.
The payment plan is typically based on what the debtor can afford to pay. When you secure our representation, we will help you build a monthly payment
plan that best suits your unique financial situation. One of the many
benefits of this avenue of debt relief is that debtors are not often required
to pay back the entire portion of their debt. After your portion is paid
off, the remaining unsecured debt will be discharged. In addition, debtors
are generally enabled to protect their property under state law exemptions.
In addition to the aforementioned benefits, after an individual has completed
the Chapter 13 process, he or she may be able to strip off a second or
third mortgage. Essentially, after your unsecured debts have been discharged
through Chapter 13, you will never have to pay these mortgages. This possibility
has allowed countless individuals to
save thousands upon thousands of dollars. Upon retaining our representation, we will inform you if you are eligible
for a lien strip.
Get back on your feet and pay back only a portion of your debts!