memphis bankruptcy attorney | Darrell Castle & Associates

By: Darrell Castle

Struggling with debt you can’t pay can feel like running up a down escalator. It may seem possible to get up the escalator, but you never really move and you grow tired in the process.


Don’t run up a down escalator. Consider Chapter 13 bankruptcy instead, especially if you’re behind on your mortgage or car payment.

Here are three benefits of filing for Chapter 13 bankruptcy.

1. You Get a Fresh Start

The debt has piled on and it won’t stop. You’re struggling to make ends meet. You’re tired. You just want a fresh start.

That’s how debt feels, and many Americans are struggling with these emotions. You can get that fresh start through Chapter 13 bankruptcy.

Chapter 13 bankruptcy is a debt reorganization plan. When you file, you lump your debts and past-due payments into a repayment plan. And your payments are reduced so that you’ll make AFFORDABLE payments for 3-5 years. Once you complete the repayment plan, the remainder of the debt is discharged.

2. You Keep Your Property

If you’re behind on your mortgage or car payment, then you may be in danger of losing your property. Don’t fear though! Filing for Chapter 13 bankruptcy will stop the foreclosure or repossession.

And once your payment is complete, your car is completely paid off and your mortgage is current.

3. More Cash Flow

A big problem with having debt is the lack of cash flow to meet your weekly and monthly needs.

The more money you have going towards the debt you’re trying to pay back, the less money you have to buy gas so you can get to work. Or groceries to feed you and your family.

But when you file Chapter 13 bankruptcy, your attorney will design a payment plan in which you pay a reduced amount of money on your debt, freeing up cash to make those necessary weekly and monthly purchases.

An experienced bankruptcy attorney can help clear up any questions you may have after reading this.

Want a Free Bankruptcy Consultation?

If you’re struggling with debt you can’t pay, come in and talk to an attorney about your situation. It’s free information and we may be able to get you out of this mess.

In the video below, I talk about the benefits of a bankruptcy consultation.