You may already know that if you file for Chapter 13 bankruptcy, you’ll need to create a debt repayment plan. That plan needs to be filed with the bankruptcy court within 15 days of your bankruptcy petition. Chapter 13 repayment plans are either three or five years,...
Chapter 13 Bankruptcy
Can you convert your Chapter 13 bankruptcy to a Chapter 7?
You ran into a period of unemployment or unusual financial demands. When the bills became impossible to manage, you decided to file for bankruptcy. Since you still had substantial income coming in, you decided that you merely wanted to reorganize your debts through...
Chapter 13 bankruptcy could save your home
Having a roof over your head is one of the basic physiological needs emphasized by the American psychologist Abraham Maslow in his Hierarchy of Needs. It is necessary to have shelter before building the rest of our lives, our relationships, careers and self-esteem. If...
What are 3 ways to come out of bankruptcy stronger?
You didn't want to have to go into bankruptcy, but after looking over your finances and budget, you saw no other way to get your debt under control. Now, you're looking into the different options you have and have decided that Chapter 13 bankruptcy is right for you.If...
Can you take out a personal loan after a bankruptcy?
One of the things that you may be interested in doing after you go through bankruptcy is getting a personal loan. If you want to take out a loan to get a vehicle, to start a business or for other purposes, having a bankruptcy on your record could impact you...
If you have medical debt, bankruptcy could help
Even if you planned well, had insurance and were prepared for an emergency, the truth is that health care costs are high and may seem unpredictable. Americans spent around $3.6 trillion on medical care in 2018 alone, so it's not a surprise that so many people struggle...
Preparing a Chapter 13 bankruptcy can be complex
Realizing that you can't handle the credit payment you're supposed to make is harrowing. This can come from a variety of reasons, including job loss or illness. Individuals who are in this position usually try to find ways that they can recover financially. This isn't...
Handling the mortgage and arrearages during Chapter 13 bankruptcy
Realizing that you can't keep up with your debts is a very serious situation for many individuals. For homeowners who opt to file a Chapter 13 bankruptcy, figuring out what to do about the mortgage might be a priority. Be sure to think about these points when you...
Important points you should know about a Chapter 13 bankruptcy
Coming to the realization that you need to file for bankruptcy is a serious matter. There are two types of consumer bankruptcy filings. One of these is a liquidation bankruptcy, Chapter 7, in which all your non-exempt assets are liquidated to pay off creditors. You...
Understand how foreclosure can be halted in a Chapter 13 filing
The Chapter 13 bankruptcy is one that's meant to help people who earn a living repay a portion of their debts in exchange for discharging the remaining balance once all the payments are made to the bankruptcy trustee. While you're making those payments, you'll have to...