Cheap Chapter 13 Bankruptcy Attorney — 8 Things You Need To Know
A cheap Chapter 13 bankruptcy attorney may be able to provide you with the help you need to get your finances under control. The economy has been tough on everyone. Some people have gotten into money troubles and the only answer seems to be bankruptcy. Chapter 13 bankruptcy is more of a repayment option than a clean sweep.
Understanding Chapter 13 Bankruptcy
1. Chapter 13 bankruptcy is a chance for you to adjust your debts. You can keep your property and pay off what you owe over a set period of time — usually three to five years. It is set up for those filers with regular income that have the ability to make payments.
2. You and your Chapter 13 attorney will work together to come up with a repayment plan. The repayment may cover all of your debts or only part of your debts. The repayment period cannot be longer than five years.
3. During the Chapter 13 bankruptcy repayment period creditors cannot start or continue any collection efforts.
