Considering Filing Chapter 13 Bankruptcy Here Are 12 Reasons To

Considering Filing Chapter 13 Bankruptcy Here Are 12 Reasons To File According to A sss

Flexibility - At any point, you can either convert the case to Chapter 7 or dismiss it. Also, you can modify your payment plan if you want to give up a house or car or have a change in income. And you can refinance or sell your house during the administration of the plan.

2. If you are facing foreclosure because of non-payment, you can include these past due payments in your plan and save your house. This gives you the entire length of the plan to get those payments caught back up.


3. If you have an 'unsecured' second mortgage, you can use Chapter 13 to remove it from your home.


4. You can challenge the costs added to your mortgage by the lender.


5. Trustees want you to succeed, so they will cooperate with you.


6. Some debts that you cannot include in Chapter 7, such as divorce payments, can be included in Chapter 13.


7. You don't have to pay your attorney's fees up front; you can pay them over time.


8. You can avoid having to reaffirm a car in order to keep it.


9. You can extend your payments for a car or other secured debt.


10. Past taxes and child support/alimony obligations can be caught up over 5 years.


11. A Chapter 7 case can be challenged by a United States Trustee based on your income; a Chapter 13 case cannot.


12. Your property will not be taken away, whether it is exempt or not.


The idea of filing for bankruptcy for many people still carries a stigma of failure. But the truth is declaring bankruptcy gives you a chance to start over and make a fresh start. It's important to speak with a qualified somekeyword before you file so he can advise you on whether to file Chapter 7 or Chapter 13. Be sure you hire a somekeyword with extensive experience in bankruptcy law so he can answer all your questions about bankruptcy and how filing will affect you, your property and your future.somekeyword somekeyword somekeyword somekeyword