Bankruptcy can be stressful. Some experts even claim that the mental and emotional stress can be worse for those going through the process than the financial strain that they face.
Not paying taxes could turn Chapter 13 into Chapter 7
You filed for Chapter 13 bankruptcy because you're still earning money, working as an independent contractor, and so you wanted to pay off your debt over three to five years instead of liquidating your assets. You like the idea of keeping what you own.
Breaking down bankruptcy -- what you need to know
If you are one of the many New York residents struggling financially, you have likely started looking into all of the debt relief options available to you. Some may not seem very realistic, and others may seem too good to be true -- which means they probably are. At the end of the day, there is no quick fix or magic pill that is going to make everything better. Time, taking the right steps and hard work are the only things that can correct your situation.
How often do you pay with Chapter 13?
You opt to file for Chapter 13 bankruptcy. With your income, you know you can pay the debt off. You don't want to lose any of your assets. You just need more time to pay.
How Chapter 13 may help you keep the house
You're behind on your mortgage payments and you're facing foreclosure. You also have a lot of other debt from credit cards, personal loans and some medical bills.
