Home » Articles » Finance / Wealth

Save Your Home by Filing for Chapter 13 bankruptcy

Save Your Home by Filing for Chapter 13 bankruptcy
"""Insolvency is an ugly reality. If you are tired of constant contacts from creditors and wish to protect your assets, it is time to file Chapter 13 with the assistance of a reputable bankruptcy attorney.

To protect your residence, vehicle, and other assets, you can declare Chapter 13 bankruptcy. Chapter 13 allows you to repay some or all of your debts over a three- to five-year period. Courts will determine the duration of your repayment term. The repayment schedule is tailored to your requirements and income level. Typically, the greatest available term for repayment is five years. A skilled attorney can get you a decent deal.

By registering for Chapter 13, you also receive protection from a ""automatic stay."" This means that a judge can halt all collection efforts against you for several months, during which time you will not be required to leave your home or have your vehicle or other assets seized.

And if you file Chapter 13 bankruptcy before your home is foreclosed, you can stop the foreclosure. Even if you are unable to make your mortgage payments, you may still be able to save your home. With the aid of an experienced attorney, you can delay or even stop a current foreclosure on your home.

This automatic stay also protects against the loss of home utilities. Without utilities such as electricity, gas, and water, it can be very difficult to reside in a home. By registering for personal bankruptcy, however, you can prevent the loss of such utilities. It's possible that you'll be able to pay off your debts within a few months, and you'll never have to worry about losing your utilities again.

Even after filing for personal bankruptcy, you should consult with an attorney about how to retain possession of your home, vehicle, and other assets. Your attorney can help you negotiate with your creditors for a debt repayment plan that is suitable, flexible, and less taxing. A skilled attorney can help you pay off your debts without losing your home or other assets during the bankruptcy process.

" - https://www.affordablecebu.com/

Please support us in writing articles like this by sharing this post

Share this post to your Facebook, Twitter, Blog, or any social media site. In this way, we will be motivated to write articles you like.

--- NOTICE ---
If you want to use this article or any of the content of this website, please credit our website (www.affordablecebu.com) and mention the source link (URL) of the content, images, videos or other media of our website.

"Save Your Home by Filing for Chapter 13 bankruptcy" was written by Mary under the Finance / Wealth category. It has been read 114 times and generated 0 comments. The article was created on and updated on 02 June 2023.
Total comments : 0