When the bills pile up and can’t be paid for whatever reason, life can be pretty stressful. Dodging bill collectors and certified mail from creditors can become exhausting, and once a lawsuit gets filed against you for recovery, you may find the whole situation hopeless. You have been trying to avoid filing bankruptcy, partly because you know the consequences and somewhat because you don’t understand the process. If you own property and earn a regular monthly wage, you may want to read these three reasons Chapter 13 bankruptcy might work.
1. Chapter 13 Bankruptcy Is a Payment Plan
When you think of bankruptcy, you probably assume it means you will be homeless, carless and penniless for years to come. That is not the case. In Chapter 13 bankruptcy, the debtor (you) along with your chapter 13 lawyer orlando fl will meet with your creditors and reach a payment plan. This …