Times When Chapter 13 Bankruptcy Is Better Than Chapter 7

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Chapter 7 bankruptcy and Chapter 13 bankruptcy are both commonly used by people who are struggling with major financial problems, and many people prefer the first over the second. There are also times, though, when Chapter 13 is the more advantageous one for people to file; here are some of the situations in which this is true. A person is facing foreclosure When foreclosure is in the picture, the only branch of bankruptcy that will help is Chapter 13.…

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When Should You Consider Chapter 13 Bankruptcy?

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Considering filing bankruptcy is never an easy decision, but if you’re finding it difficult to keep up with your debts, a bankruptcy might be the best option for your wallet, your credit and your stress levels. Chapter 13 bankruptcies won’t discharge all of your debts as quickly as Chapter 7 bankruptcies will, but Chapter 13 is a better option for some people. If you choose to go forward with Chapter 13, you’ll receive a proposal for a repayment plan with monthly installments to be paid over a 3- to 5-year period.…

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Tips For Those Considering Bankruptcy Protection

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Debt can have a devastating effect on your quality of life and financial future. Unfortunately, individuals can amass far more debt than they can reasonably pay off. When this happens, a vicious cycle can be created where individuals gradually fall further into debt. Understand The Various Types Of Bankruptcy Protection You Can Seek There is a misconception among many individuals that there is only one type of bankruptcy. However, there are many different types of bankruptcy protection that can be sought by individuals and companies.…

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