When you’re in a position where you’re facing a growing debt that threatens your life and livelihood, it’s normal to want to get out of the situation through any means necessary. Before you take any steps toward freedom from your debts, it’s important that you understand what you’re doing. Each choice you make now could affect you into the future, and you need to understand how your future will be changed.
Chapter 13 bankruptcy is one of the few bankruptcy choices that allows you to restructure your debt, so you can keep the things you have. Part of the problem of having debt is the amount you have to pay each month. Did you know that choosing Chapter 13 bankruptcy can help you reduce your liability and provide you with an affordable monthly payment that is primarily based on your income?
With Chapter 13 bankruptcy, there are a number of benefits you can appreciate. You may be able to consolidate high student loans, for instance, helping you reduce them and get a zero-interest repayment plan. You could eliminate credit card debt, and best of all, you could stop harassing phone calls to your home and cellphone. If you have tax debt, you can either repay it or eliminate it, and your mortgage may be able to be altered to make it affordable.
With this process, you should be able to keep your home and vehicle. Our website has more information about Chapter 13 bankruptcy and its benefits. Learn all about it before you decide to take action; you’ll be glad you explored your options.
Tags: Chapter 13, Chapter 13 bankruptcy, credit card debt