Chapter 13

Inability to Follow the Chapter 13 Monthly Payment Plan

It is very difficult to decide whether to file for a Chapter 13 bankruptcy or not. The main reason it is a difficult decision to make is that it might come with a lot of limitations. In Chapter 13 bankruptcy, your lawyer and your bankruptcy trustee (appointed by your court) make a feasible repayment plan, in which you are supposed to make monthly payments to the trustee for 3 to 5 years. At first, it might sound convenient for you, but later, you come to know more. Your household size, household income, and debts decide your Chapter 13 [...]


Is Bankruptcy an Answer to Debt Relief?

A disability may occur to anyone at any point in time, but the gaping fact is the treatment. The treatment of a person may be quite expensive. The person may not have enough and may have to take loans to get treated. The loan could mount unreasonably making it difficult for the person to clear it off. Getting a disability benefit may help him swing through the daily chores but will not help him clear the loans. With disability, the person cannot be employed for gainful income and hence is left with little or no resources to clear [...]