Although Chapter 7 bankruptcy is the most common type of bankruptcy filed by individuals seeking debt forgiveness, debtors do have other options, such as Chapter 13 bankruptcy. This chapter of bankruptcy has a number of advantages that Chapter 7 bankruptcy cannot provide and is a great option for debtors who have the means to pay back his or her debts over time, but simply need some assistance. If you are facing financial difficulty and want to pursue bankruptcy, you should speak with a skilled bankruptcy attorney about the benefits of Chapter 13 bankruptcy and whether or not it is the best option for you.
If you or a loved one is considering filing for bankruptcy to achieve debt forgiveness, you should speak with an experienced and knowledgeable legal representative about your options. To learn more about the benefits of Chapter 13 bankruptcy, contact a Raleigh Chapter 13 bankruptcy lawyer of the Bradford Law Offices, today at (919) 758-8879.
Benefits of Chapter 13 Bankruptcy
There are a number of benefits associated with Chapter 13 bankruptcy. Some of these benefits include:
- Allowing a debtor to keep their property and assets, such as a home, automobile, or furniture
- Giving the freedom and flexibility to set a unique repayment plan, which includes being able to determine the amount of time you have to pay off your debts, as well as the payment amount
- Automatic stay from harassing creditors calling or sending a debtor letters
- Less damaging to a person’s credit score
For debtors with more financial resources, Chapter 13 bankruptcy is often a much smarter choice when filing for bankruptcy.
Chapter 13 bankruptcy may be the best option for your financial situation. To discuss Chapter 13 bankruptcy, contact a Raleigh Chapter 13 attorney of the Bradford Law Offices, at (919) 758-8879 today.