When Chapter 13 is the Best Option?
Posted By
Majed on Apr 15, 2011 8:10am PDT
Chapter 13 differs from Chapter 7 because it allows debtors to pay a portion of their debt back to creditors. Whether either chapter is more desirable depends entirely on the debtor's current financial situation and goals. However, listed below are a few scenarios where Chapter 13 may be the better option.
* You have some debt that cannot be discharged in Chapter 7, i.e. back taxes or a student loan.
* You have a strong desire to repay your creditors, whether all or a portion
* You are trying to keep from losing a home or vehicle
* You are ineligible to file for Chapter 7
Whether you fit into one or more of these criteria, the
Fears | Nachawati Law Firm has a solution customized for you.