Filing for bankruptcy is a serious financial step, but you may consider it if you’re struggling with debt. By filing for Chapter 13 bankruptcy, you will be able to restructure overwhelming debts by setting up a repayment plan. Below are the kinds of debts you can...
Chapter 13 Bankruptcy
What is the repayment plan requirement in Chapter 13 bankruptcy?
Bankruptcy helps stop collection activity and can help people eliminate some of the debts that prevent them from balancing their household budgets. Chapter 13 bankruptcy is a valuable option for those who earn a decent wage or who have substantial personal property....
Can Chapter 13 bankruptcy stop a foreclosure?
Often, when people talk about foreclosure defense, they talk about Chapter 7 bankruptcy. Chapter 7 bankruptcy has an automatic stay and immediately pauses foreclosure actions. It helps people get out of unsecured debt and may allow them to catch up on missed payments...
You have a say in the details of your Chapter 13 repayment plan
By this point in your journey to overcome debt, you probably already know the difference between a Chapter 7 and a Chapter 13 bankruptcy. Under the laws governing Chapter 13 filings, you must submit a plan to repay your debts. Many people believe they have no role in...
Can bankruptcy can help you regain control when facing foreclosure?
When your income drops, your expenses probably stay the same, at least at first. While there may be opportunities to make changes to your lifestyle or your budget, you may find yourself unable to pay all of your bills. If your income dried up completely, you may have...
What are some advantages to filing for Chapter 13 bankruptcy?
Financial hard times can fall on just about anyone in Bridgeport. A job loss in a tough economy, a mortgage that is underwater or an illness that leads to massive medical bills can all spell financial catastrophe. In these situations, a person in Connecticut may...
The rules for filing under Chapter 13
Connecticut consumers can file for Chapter 13 bankruptcy regardless of their income. However, they must have no more than $1,257,850 in secured debts and no more than $419,275 in unsecured debts at the time that they file. Those who are looking to file for Chapter 13...