September 2017

06 Sep Yes You Can Refile Your Chapter 13 Case, But Should You?

If you are facing a foreclosure, vehicle repossession, wage garnishment or other financial crisis, Chapter 13 bankruptcy can be a great tool to stop the chaos.  As the type of bankruptcy that includes a repayment plan, Chapter 13 can empower you to reduce your monthly payments, eliminate accruing interest on credit card debt, reduce your total indebtedness - all while protecting your real and personal property from creditor actions.If you are facing a foreclosure, vehicle repossession, wage garnishment or other financial crisis, Chapter 13 bankruptcy can be a great tool to stop the chaos.  As the type of bankruptcy that includes a repayment plan, Chapter 13 can empower you to reduce your monthly payments, eliminate accruing interest on credit card debt, reduce your total indebtedness - all while protecting your real and personal property from creditor actions. When Chapter 13 plans work, they can literally be life changing and every experienced bankruptcy attorney can recount stories of grateful clients who successfully completed their Chapter 13 plans with property intact and debt gone. Unfortunately, however, most Chapter 13 plans fail before completion - in some jurisdictions the failure rate is 65% or higher.  Often repayment plans fail not because of bad faith on the part of debtors or even because of unrealistic budgeting.
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