Most people considering Chapter 13 bankruptcy realize that filing for bankruptcy will affect their credit. But many people wonder about the specifics: how long Chapter 13 bankruptcy lasts, how it works, and how specifically it’s likely to affect a filer’s credit....
Chapter 13 Bankruptcy In a Chapter 13 bankruptcy proceeding, the debtor keeps all assets and creates a plan to repay debts within a three-to-five year time period. The repayment plan must be approved by the court. Once approved, the debtor makes payments to a...
Many homeowners don’t want to face foreclosure. When they fail to pay for their mortgages for at least 4 months, homeowners are faced with foreclosure. Some lenders will be open to negotiations but there are other lenders who refuse to give better payment terms. This...
Whether you’re up to your neck in loans, out of work or stretching one small paycheck to meet ever-growing obligations, nearly everyone occasionally flirts with the idea of ditching their debt. But the reality of bankruptcy is that it’s a complicated legal...
Chapter 13 is a type of bankruptcy that allows debtors to reorganize in an attempt to pay back their debts over a certain time period. Before filing for Chapter 13, you should contact a bankruptcy firm in your area and speak with a bankruptcy lawyer to see if Chapter...