Chapter 13 Bankruptcy
Why would I file Chapter 13 Bankruptcy?
Filing a chapter 13 bankruptcy will take longer than Chapter 7, and it is a bit more complicated. So why would you do it? There are several different benefits and advantages, but one of the main is it immediately puts a halt to the foreclosure process. If you are behind on house payments, you can use chapter 13 to catch up on your payments through a structured debt repayment plan. You can also use this type of bankruptcy to avoid paying interest on federal and state taxes.
How does Chapter 13 Bankruptcy work?
Your bankruptcy attorney from Rank & Associates, P.C. will help you develop a debt repayment plan so that your debts can be paid over a three-to-five year period. The payments are made directly to a bankruptcy trustee, and you pay only what you can afford. Chapter 13 can also offer protection for people who cosigned on your behalf. If this is the right choice for you, you’ll feel confident knowing that Kevin Rank and his team will be there through the whole process. We’ve filed Chapter 13 bankruptcy on behalf of countless individuals and small businesses and helped them take back their future.