Why You Should Consider Filing Chapter 13 Bankruptcy in Atlanta Explained By A Bankruptcy Lawyer in
Flexibility - At any point, you can either convert the case to Chapter 7 or dismiss it. Moreover, you can modify the payment plan if you have a change in income or decide to give up a house or car. Also, during the administration of the plan, you can sell or refinance your house.
2. If you have fallen behind on your mortgage payments and are facing foreclosure, you can include your past due payments in the plan and save your house from foreclosure. Putting past due payments in the plan gives you the chance to catch up since you have until the end of the plan to make those payments.
3. Costs that your lender may have added to your mortgage can be challenged.
4. Chapter 13 can be used to remove a second 'unsecured' mortgage from your home.
5. You can include debts that are not allowed in a Chapter 7 like some divorce payments.
6. Trustees want you to succeed, so they will cooperate with you.
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. Payments like car payments or other secured debt can be extended.
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. You will not lose any of your property, regardless of whether it is exempt.
There is still a stigma of failure attached to filing for bankruptcy. But the truth is declaring bankruptcy gives you a chance to start over and make a fresh start. There are pros and cons to both Chapter 7 and Chapter 13 so it's a good idea to speak with a skilled somekeyword before you file. Only a somekeyword with a great deal of bankruptcy law experience can answer your questions and tell you how filing bankruptcy will affect your life.somekeyword somekeyword somekeyword somekeyword
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