Filing for Chapter 13 bankruptcy can have a significant impact on your credit score. While the exact effect varies depending on your financial situation before filing, it’s important to understand what happens to your credit score after completing Chapter 13....
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Protecting assets in Chapter 13 bankruptcy
Filing for Chapter 13 bankruptcy in Indiana can be a wise choice for those looking to protect their assets while managing overwhelming debt. Unlike Chapter 7 bankruptcy, which may require you to liquidate assets, Chapter 13 allows you to keep your property. This...
Will Chapter 13 bankruptcy take all of your money?
When facing financial trouble, considering Chapter 13 bankruptcy can be overwhelming. A common worry for many is whether or not it will wipe out all of your money. Understanding how Chapter 13 will handle your money can assist you in determining if it is the right...
Can Chapter 13 bankruptcy prevent a foreclosure?
Facing the prospect of foreclosure can be a daunting experience, triggering stress and uncertainty about the future of your home. In such challenging times, it is important to understand your options. One avenue to explore is Chapter 13 bankruptcy. It is a potential...
Could you refinance mortgage loans after filing for Chapter 13?
Paying off loans can be tough. Sometimes, it's so tough that people may need to file for Chapter 13 bankruptcy. This is a plan that helps people reorganize their debt, allowing them to repay some or all of their obligations in three to five years. As a homeowner, it...
How can Chapter 13 help struggling small businesses?
Small businesses in financial turmoil often turn to Chapter 13 bankruptcy to regain their financial footing. Reuters reports a 23% increase in Chapter 13 filings in 2023. This legal process offers a structured path for organizations to reorganize and repay their debts...
What happens if I lose my job during Chapter 13 bankruptcy?
A Chapter 13 bankruptcy prevents creditors from taking your money to pay off debts. In the process of repayment, unforeseen circumstances may halt paying off debts. Such cases can relate to lessening income or losing your sole income generator: employment. In that...
What debts are nondischargeable in bankruptcy?
Filing for bankruptcy could be a stressful process. It could involve a series of procedures, such as filing a bankruptcy petition with the court. All these steps are necessary to organize and resolve debts or repayments. A vital part of this process is determining...
How does a Chapter 13 bankruptcy repayment plan work?
There are many unexpected situations that arise for people in Indiana. Many people live their lives based on their current circumstances. They make their financial choices based on their current financial situation. However, there are times when that financial...
What is Chapter 13 bankruptcy, and how does it work?
If you are struggling with debt and want to avoid foreclosure or liquidation of your assets, you may consider filing for Chapter 13 bankruptcy. Chapter 13 bankruptcy, the wage earner’s plan, requires you to have a regular income and pay a portion of your debt back to...