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Struggling With Past Due Mortgage Payments And A Piling Credit Card Bill – Chapter 13 Bankruptcy Can Be An Escape

Chapter 13 bankruptcy - a payment plan that endures over 3-5 years. You may find this duration extremely lengthy and discouraging than Chapter 7 bankruptcy.

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Struggling With Past Due Mortgage Payments And A Piling Credit Card Bill – Chapter 13 Bankruptcy Can Be An Escape

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  1. Struggling With Past Due Mortgage Payments And A Piling Credit Card Bill – Chapter 13 Bankruptcy Can Be An Escape Chapter 13 bankruptcy - a payment plan that endures over 3-5 years. You may find this duration extremely lengthy and discouraging than Chapter 7 bankruptcy; however, it has its share of benefits, and these include: • You can pay what you can afford • Remaining debts can be discharged • Saves your property from the foreclosure, and • Removes a second or higher mortgage.

  2. The solution – “Pay What You Can Afford” – stands exclusive Chapter 13 bankruptcy allows you a monthly payment choice to your bankruptcy trustee covering your entire debt. In the chapter 13 bankruptcy process, your income determines your monthly payment amount. Once the bankruptcy court approves of your income credential, you can pay what you can afford.

  3. Chapter 13 bankruptcy discharges the remainder of the debt Since the bankruptcy allows you ‘pay what you can afford,’ people usually can’t pay 100% of their due over a period of 3-5 years. In most Chapter 13 bankruptcy cases, the filers pay 60-70% of their total due. In fact, in some cases, debtors repay only a small fraction of what’s primarily owed.

  4. Reach Out to Recovery law group For Enquiry We can potentially help you get the fresh start you need financially with a Chapter 7 Bankruptcy to eliminate your debt or a Chapter 13 Bankruptcy,please email at below mentioned email id: Email id:info@recoverylawgroup.com , support@recoverylawgroup.com Contact Us:https://www.recoverylawgroup.com/contact-us/ Social Channels: https://www.facebook.com/Recoverylawgroup/ https://www.linkedin.com/in/recovery-law-group-691087176/ https://twitter.com/LawRecovery https://www.instagram.com/recoverylawgroup_attorneys/

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