Posts Tagged ‘bankruptcy court’
What is a Chapter 13 bankruptcy?
In a Chapter 13 bankruptcy, the debtor is essentially going to the court and asking them for permission to reorganize their liabilities into one lump sum payment. The debtor will take all of their unsecured liabilities as well as any arrearage on their home or automobiles, pile them all together, and propose to the bankruptcy court a plan of repayment. That plan of repayment usually last between 3 and 5 years and when the plan of repayment is over with, the debtor is discharged of all of his/her remaining liabilities.
Chapter 13 Bankruptcy is the best option for folks who are behind no their homes and about to be foreclosed, have cars that are about to be repossessed, have back child support, back taxes, and even unpaid school loans.
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Bankruptcy? Dont! Debt Resolution a better option
Bankruptcy? Dont! Debt Resolution can help you avoid bankruptcy. To find out why Debt Resolution is the best Debt Relief option go to: https://mack.infusionsoft.com/go/debtsettle/now/Bankruptcy
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