A Chapter 13 bankruptcy is something that isn't taken lightly by the filer. Many people automatically think that filing bankruptcy is irresponsible, but that is simply not the case. Instead, bankruptcy is a way that you can take control over your finances again. We know that you might have some questions that you would like for us to answer. We will be happy to do this for you.
This type of bankruptcy is often referred to as the working man's bankruptcy because it requires you to make enough money that you are able to pay your normal bills and make payments to the bankruptcy trustee. It is imperative that you make the payments on time because this is the only way the bankruptcy will be discharged.
We know that many people are concerned about what assets they will get to keep during the bankruptcy process. There are some assets that you can keep when you file a Chapter 13 bankruptcy. For example, you might be able to keep your home if you are able to make the mortgage payments.
Another consideration is creditor contact. You might be sick and tired of creditors getting in contact with you via the phone or mail. Once you file for bankruptcy, you will get an automatic stay. This means that creditors must stop trying to collect the debts.
We understand that you have a lot to think about before you file. Just take a few moments to remember that filing for bankruptcy is a responsible decision that you can make to regain control of your finances.