Chapter 13 Bankruptcy
Chapter 13 Bankruptcy is designed to stop mortgage foreclosure and car repossession.
Chapter 13 Bankruptcy can allow a person to get their driver license reinstated when it has been suspended due to parking tickets.
Chapter 13 Bankruptcy is also used when people make a significant amount of income that would allow them to payback a certain percentage to their unsecured creditors.
Chapter 13 Bankruptcy is also used when people have a substantial amount of equity in their home. In an equity driven Chapter 13 Bankruptcy an individual will pay back their unsecured creditors based upon the amount of unprotected equity they have in a home.
A Chapter 13 Bankruptcy case will last somewhere between 3 to 5 years and a person will make regular and continuous monthly payments in order to pay off and complete the Chapter 13 Bankruptcy.
The benefit of filing a Chapter 13 Bankruptcy is that it will protect your house and car from being sold and allow you to make a reduced and affordable monthly payment that is designed to work within your own budget.
A Chapter 13 Bankruptcy will allow a person to only pay unsecured creditors pennies on the dollars. A person can pay as little as 10% percent.
A Chapter 13 Bankruptcy will also eliminate or massively lower the interest rate on any debts.
Contact The Law Firm of William Brummett.