If you are at the point where you are considering filing bankruptcy to clear the burden of your unsecured debts, you probably have a lot of unanswered questions about what filing for bankruptcy can do for you, questions about how much of your debt can be eliminated and how you can bounce back financially. One of the biggest questions you might have is “What chapter is right for me?” The bankruptcy chapter you file for can be enormously important.
The Benefits of Chapter 13
A Chapter 13 bankruptcy filing can help you repay your debts without the liquidation of property that goes along with a Chapter 7 filing. A restructuring debt-reduction option, Chapter 13 allows you to pay off your debts over a set period of time, allowing you to keep your property and valuables that you might lose in another form of divorce. A successful Chapter 13 filing can help you retain much of your property, including:
- Your house
- Your car
- Your rental property
- Valuable collections
Additionally, it can stop foreclosure proceedings on your home and secure a “super discharge” of debts. If you have the level of income that Chapter 13 bankruptcies require, it may be the best option for paying off your debts. At the DeLadurantey Law Office, our Milwaukee bankruptcy attorneys may be able to help work with you to draft a workable repayment plan that will satisfy both you and the courts.
At the DeLadurantey Law Office, LLC, we know how important your decision to file for bankruptcy is, and we’re happy to work with you to help you arrive at the best decision possible. If a Chapter 13 filing is in your best interest, we may be able to work with you to ease you through the often complex process and get you back on your feet. Contact us today by calling 414-377-0518.