Chapter 13 Bankruptcy:
A chapter 13 bankruptcy reorganizes all your debt into one payment per month plan over a period of three to five years. In addition to a monthly payment, you may have to turn-over your tax refunds during the course of the plan.
A chapter 13 is most effective in preventing foreclosure against a home if you've fallen behind and can make regular ongoing house payments, but just cannot get current.
Determining the monthly payment depends on your income, your total debts, and your personal assets. Generally, you don't need to surrender personal assets in a chapter 13 bankruptcy. At your consultation, the attorney can help determine the estimated monthly payment.
A chapter 13 bankruptcy reorganizes all your debt into one payment per month plan over a period of three to five years. In addition to a monthly payment, you may have to turn-over your tax refunds during the course of the plan.
A chapter 13 is most effective in preventing foreclosure against a home if you've fallen behind and can make regular ongoing house payments, but just cannot get current.
Determining the monthly payment depends on your income, your total debts, and your personal assets. Generally, you don't need to surrender personal assets in a chapter 13 bankruptcy. At your consultation, the attorney can help determine the estimated monthly payment.
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