Bankruptcy Debt: Is Bankruptcy The Best Way To Solve Debt Problems?
The advantages of Chapter 13 bankruptcy are that you can keep most of your property
while making payments for three to five years to pay off your past due debt. You will only make one monthly payment to your bankruptcy debt trustee, who will then in turn make payments to your creditors in order for all your debts to be paid within that three to five year period. At the time of writing, you can qualify for this type of bankruptcy if you have unsecured debts below $360,475 and secured debts that are less than $1,081,400.
Bankruptcy Debt: Is Bankruptcy The Best Way To Solve Debt Problems?