The Advantages of Chapter 13
An uncomfortable truth about reality is that the unexpected can occur with unsettling frequency. Medical emergencies, loss of employment or revenue streams and the sudden onset of debt can rob you of any sense of financial security. For many, it can be challenging to stay “in the black” when life has other plans.
If the debt is mounting and you are finding it increasingly difficult to keep up, then a reset might be in order. That is where filing for bankruptcy might be a sensible decision. Filing for chapter 13 gives you a chance to meet with your lenders and negotiate new terms for paying them back.
The goal of declaring bankruptcy is to provide a new plan for repaying your debts. By pursuing this path, you can repair your credit, consolidate debt payments, and even save your home from foreclosure.
Bankruptcy isn’t the taboo that gossipers and rumor mills imagine it to be—it is a tool you can use to regain your financial footing. Contact our law office to request a consultation to learn if filing for bankruptcy is the right choice for you. We serve clients throughout Southern Mississippi.
