The advantages of
An uncomfortable truth about reality is that the unexpected can occur with unsettling frequency. Medical emergencies, loss of employment or revenue streams and the sudden onset of debt can rob you of any sense of financial security. For many. it con be challenging to stay “in the black” when life has other plans.
If the debt is mounting and you are finding it increasingly difficult to keep up, then a reset might be in order. That is where filing for bankruptcy might be a sensible decision, Filing for chapter 13 gives you a chance to meet with your lenders and negotiote new terms for paying them back.
The goal of declaring bankruptcy is to provide a new plan for repaying your debts. By pursuing this path, you con repair your credit, consolidate debt payments, and even save your home from foreclosure.
Bankruptcy isn’t the taboo that gossipers and rumor mills imagine it to be it is a tool you can use to regain your financial footing. Contact our law office to request a consultation to learn if filing for bankruptcy is the right choice for you. We serve clients throughout Southern Mississippi.
When it feels like you’re struggling to keep your head above water financially, you should talk to a bankruptcy lawyer to explore your options. We can help you determine whether filing for bankruptcy would benefit you and if Chapter 13 is your best option.
Generally speaking, the clients best suited for Chapter 13 are those who want to pay down secured debts like mortgages and auto loans in an affordable manner and keep those assets. The court will approve a repayment plan tailored to your circumstances that allows you to pay off the debt in three to five years while protecting you from creditors. Some common reasons for working with a Chapter 13 bankruptcy lawyer include:
Contact our bankruptcy lawyer today to learn more about Chapter 13 and whether it makes financial sense for your situation.
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