Ch. 13 bankruptcy has helped countless homeowners escape foreclosure and find financial security. But everyone’s situation is a little different, and whether Ch. 13 is the best choice for you depends on a few variables. Your best bet is to consult a professional bankruptcy attorney when considering bankruptcy. But in general, Ch. 13 is a good fit for the following:

• Those who earn a regular income
• Homeowners at risk of foreclosure – or anyone unwilling to part with certain assets
• People facing financial difficulty due to circumstance beyond their control, like job loss, medical expenses, divorce or some other hardship

Just like Ch. 7, Ch. 13 bankruptcy has its pros and cons.

Many folks choose Ch. 13 to avoid foreclosure (or any other type of repossession) during a temporary financial setback.

That said, Ch. 13 won’t make your debt won’t completely disappear – you’ll still have to make payments, though doing so will become a lot easier. And you’ll have to stick to your payment plan for several years if you want to discharge debts and maintain protection for your home and other assets. For those reasons, Ch. 7 might be a better plan for someone without a steady source of income – or who has a history of compulsive overspending.

Not sure what type of bankruptcy is right for you? That’s OK – this is where our professional bankruptcy attorneys come in! An experienced DebtStoppers attorney can identify the best plan for your specific situation and answer all of your questions and concerns – at absolutely no obligation.

Call us today at 800-440-7235 or fill out our free one-on-one debt analysis form online.