Prevent Foreclosure With A Chapter 13 Filing
– By Priya Jestin, Staff Writer
Did you know that a Chapter 13 bankruptcy is also called a wage earner’s plan? That’s because it allows individuals with regular income to develop a plan to repay all or part of their debts. Uscourts.gov reports:
Chapter 13 offers individuals a number of advantages over liquidation under chapter 7. Perhaps most significantly, chapter 13 offers individuals an opportunity to save their homes from foreclosure. By filing under ths chapter, individuals can stop foreclosure proceedings and may cure delinquent mortgage payments over time.
Read more: Bankruptcy Basics