Bankruptcy is an ugly truth. If you are fed up with the incessant calls from creditors and would like to protect your assets, it's time to begin filing Chapter 13 with the help from a trusted bankruptcy attorney.
You can declare personal bankruptcy by filing Chapter 13 to protect your home, your car, and other assets. By filing Chapter 13, you can repay some or all of your debts over a period of three to five years. The courts will decide how long your repayment term will last. The debt repayment plan is based on your needs and income level. Usually, five years is the longest available term for repayment. An experienced lawyer can get you a good deal.
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By filing Chapter 13, you also get an "automatic stay" protection. This means a judge can stop all collections against you for several months, and during this time, you won't be forced to leave your house, or have your car or any other assets taken away from you.
And if you file Chapter 13 before your house goes into the foreclosure process, you can stop the foreclosure. It is likely you will be able to save your house even when you are unable to pay the mortgage payments. You can delay or even save your house from an ongoing foreclosure with the help of an experienced lawyer.
This automatic stay also protects losing utilities at your home. It can be quite difficult to live in a house without utilities like electricity, gas, water, etc. But by filing personal bankruptcy, you can avoid losing such utilities. With a suitable debt repayment plan, it's possible you can pay the dues within a few months, and you won't have to worry about losing utilities ever again.
You should consult with an attorney on how to hold onto your assets like your house, your car and other assets, even after filing personal bankruptcy. Your attorney can help you negotiate better with your creditors to get you a suitable, flexible and less taxing debt repayment plan. Bankruptcy is a complicated process, so an experienced lawyer can help you pay off your debts without losing your home or other assets.
Is Bankruptcy Right For You? Talk to Bankruptcy Attorneys Free and Confidential. Licensed bankruptcy attorneys are available. Attorneys will call you to discuss your case for free. Find out if bankruptcy is right for your situation.
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