Entering into a Chapter 13 bankruptcy repayment plan is an excellent way to restructure your debt and add order to your life while you are getting back on your feet. During your repayment plan, you will make monthly payments to your creditors for a period of 36 to 60 months (3 to 5 years). Since […]
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Filing for Chapter 13 offers debtors a chance to regain control of their finances by paying back most, if not all, of their debts over a three or five-year period. However, due to the time frame for these plans, a lot can happen in life, including cash gifts and even inheritances. In general, changes to
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Filing for bankruptcy is a huge, life-changing move. There can be a lot of uncertainty for the filer and questions they may have about the process. Frequently, people are concerned by how long it takes to file Chapter 13 bankruptcy because it can be a time-consuming process. The bankruptcy code is long and complicated, so
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Car loans, mortgages, student loans, as well as other loans and expenses that you have, may make it difficult to afford necessities for a decent quality of life. Bankruptcy can be a frightening concept, but knowing what options are out there can help bring peace of mind and long-term financial success. There are many different types
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Today, student loans are one of the most crippling debts that college graduates have accrued. Often, it’s not the amount of the original loan that causes difficulty with repayment but the punishing interest rate on the loan combined with stagnant wages. Recent reports show that it’s not just students who face student loan difficulties. Parents
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The major factor that plays a role in what property you may lose when filing for Bankruptcy, is the type of bankruptcy you file: Chapter 7 or Chapter 13. If you file Chapter 7 bankruptcy, you may lose some property and personal belongings that are not exempt. In short, you will lose property you cannot
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According to Experian, roughly 20% of current auto loans are considered to be subprime. These loans are geared for those with poor credit and have high interest rates. The best course of action for handling an existing auto loan as you approach bankruptcy requires that you and your attorney evaluate your specific circumstances. Assuming that you require a vehicle
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When collection calls from creditors are keeping you awake at night or making you want to throw your phone against the wall, you need to ask yourself a tough question: can you actually afford to repay your debts? Consumer debt from credit cards, car loans, student loans, home mortgages and IRS debts are at an
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If you are considering bankruptcy, the fear of losing possessions can be enough to make it seem not worthwhile, despite the crushing debt. Most individuals who are considering bankruptcy owe far more than they can pay, with no end in sight. It can become difficult to purchase simple items like food and gas, all while
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Bankruptcy filing rates are down overall, but four Georgia counties are among the top ten in the nation in terms of consumer bankruptcy filings. With 1,096 bankruptcy filings per 100,000 people, Clayton County (Jonesboro) is second only to Shelby County in Tennessee. The recession hit folks in Clayton County hard, as unemployment peaked at 13.5
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