More About Chapter 13 Bankruptcy

As long as you have a regular source of income and your level of debt meets federal guidelines, you may be able to avoid losing assets like a home or car while participating in a repayment plan by filing for Chapter 13 Bankruptcy. Applying for Chapter 13 Bankruptcy also gives you the chance to pay down some of your debt because it stops foreclosure proceedings and ends collection efforts against you. In cases like these, a bankruptcy court will evaluate your household budget and then determine a monthly debt payment that the court considers reasonable for your circumstances. It usually takes anywhere from three to five years to complete this kind of repayment plan. However, your credit report will list your bankruptcy for a period of seven years.

Here are additional debt help and debt relief options that you should consider instead of Chapter 13 Bankruptcy:

• Debt Settlement
• Debt Negotiation
• Credit Card Debt
• Debt Management
• Debt Consolidation Program
• Consumer Credit Counseling
• Chapter 7 Bankruptcy