By: Darrell Castle
If you’re behind on your house or car payment but want to keep your property, then a Chapter 13 bankruptcy is right for you.
When you fall behind on your house payment – your mortgage – the bank can threaten to take your home away (foreclosure). Likewise, when you fall behind on your car payment, the bank can repossess your car.
Your mortgage and car note are secured debts – debts backed by collateral. And your creditors have the right to take that collateral from you when you don’t pay your bill.
You can stop them from taking your property by filing for Chapter 13 bankruptcy.
Chapter 13 is a reorganization of your debts into an AFFORDABLE repayment plan over the course of 3-5 years.You’ll also have increased cash flow throughout your repayment plan. This will allow you to pay all of your other bills on time and meet your everyday needs.
Once you’ve completed your repayment plan, your bankruptcy is discharged and so is all of the debt you included in it. The only exception is your home – your mortgage won’t be discharged, but you’ll be CURRENT on your payment once the bankruptcy is complete.
You then have a clean slate and fresh start financially to begin rebuilding your finances – and your life – the RIGHT way.
Darrell Castle & Associates not only wants to help you get out of debt through bankruptcy, but we want to provide you with the tools to succeed afterwards. That’s why we proudly partner with Dave Ramsey’s Debtor Education Course. This video course will teach you the fundamental financial principles to succeed, but not in your boring run-of-the-mill fashion. It’s entertaining and will make you laugh!
If Chapter 13 bankruptcy sounds like something that could help you and you want to talk to someone experienced about it, then our FREE consultation is perfect for you. No obligations.
Call (901) 327-2100 today to schedule your appointment or fill out one of the contact forms on this page to have someone from our office contact you.