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Posts tagged "Chapter 13 bankruptcy"

Wage-earner's bankruptcy can help working individuals

Chapter 13 bankruptcy is one that can provide protection for people who are in deep debt but are unable to qualify for a Chapter 7 bankruptcy. There are many reasons why this might be the chosen option for people who need to do something to handle the overwhelming bills that they are facing.

Chapter 13 bankruptcy might help stop foreclosure

Missing a mortgage payment can instill fear in the heart of a homeowner. When the payment is missed, the lender might start the countdown to foreclosure so it is imperative the payment is made as quickly as possible. Typically, lenders won't start official foreclosure procedures until a person has missed two to three payments. With this in mind, it might be possible for you to work something out so that you can rectify the missed payment in a few months as long as you don't miss another payment.

Chapter 13 bankruptcy comes with specific responsibilities

Filing for Chapter 13 bankruptcy is a serious matter that must be considered very carefully. When you are going to file, you need to take a close look at the money. One of the steps of filing for this type of bankruptcy is to speak with a credit counselor to determine if there are any options for you besides bankruptcy. We can help you learn more about your responsibilities when it is time for you to file.

Chapter 13 has benefits and drawbacks for you to consider

Filing for bankruptcy protection is one step you can take to reclaim your finances when things get out of hand. One form of bankruptcy that you might file is a Chapter 13. This is often referred to as a working man's bankruptcy because you will be required to make payments on the case based on a schedule issued by the court.

Understand the ins and outs of Chapter 13 bankruptcy

When you have the assets or income that exceed the means test that is used to determine eligibility for Chapter 7 bankruptcy, you might end up filing for Chapter 13. This is often referred to as the working man's bankruptcy because it includes a repayment plan that is based on your income and expenses.

How Chapter 13 bankruptcy could help you pay child support

All family law courts in the United States place a high importance on a parent's child support obligations. This means that child support cannot be discharged in any type of bankruptcy. In other words, courts always expect parents to pay their support obligations regardless of their financial situations.

Chapter 13 bankruptcy | The upside vs. the downside

You probably already know how difficult it is to stay ahead in the nation's economic environment. Despite your very best efforts, you may have reached the conclusion that bankruptcy is the only way to address your financial hardships. While it can be a sad realization, you are in good company as many other Wisconsin residents are in the same situation.

Chapter 13 bankruptcy in Wisconsin | An overview

If you are like most residents in the Appleton region of Wisconsin, filing for bankruptcy is the last debt relief solution on your list of options. People naturally fear bankruptcy even though it does not carry the stigma it once did. When you realize that this option is your best choice, you must then decide whether to pursue a chapter 7 or a chapter 13 bankruptcy.