Chapter 13 bankruptcy is a form of bankruptcy that enables you to repay some of your debts by following a set plan that is ordered by the court. This type of bankruptcy also allows you to hang on to certain assets. If you are swimming in debt and have some funds available for making payments to the bankruptcy trustee, you might consider this option.
We know that you might be wary to file bankruptcy at all. This is often a difficult decision, partially because people tend to focus on the negative connotation surrounding bankruptcy. It is imperative that you look past this connotation and think carefully about how bankruptcy might help you to improve your situation.
When you file for bankruptcy, you aren't screaming defeat. Instead, you are accepting a legal way to help your financial situation. This isn't anything that is going to be easy to work through. There are specific requirements for filing bankruptcy that you have to know about.
One thing that you will have to do is take education courses. These can help you learn how to budget your money and be more financially sound. Make sure that if you opt to file for bankruptcy that you are prepared to examine your finances because that is exactly what you will have to do.
We understand that you might have some questions about what your options are for dealing with your debts. You might want to know how bankruptcy might impact you, as well as how it might impact your assets. We can help you to look at how your unique case might be impacted by the filing.