Understanding Chapter 13 Bankruptcy
Although bankruptcy once had a negative connotation, filing for bankruptcy can actually be a smart decision if you are constantly struggling to make ends meet. Chapter 13 bankruptcy is one of the most commonly utilized forms of bankruptcy for individuals. It is mainly identified by a debt-clearing technique known as “debt consolidation.”
At the Law Offices of Stuart B. Handelman, we are well-equipped to handle any legal issues involved in your bankruptcy case. We believe that bankruptcy does not mean financial failure; instead, bankruptcy can provide a fresh financial start for debtors. Contact an experienced Chicago bankruptcy attorney from our offices today by calling 312-360-0500.
Benefits of Chapter 13 Bankruptcy
There are a few ways that Chapter 13 bankruptcy differs from Chapter 7 bankruptcy, and it is important to know which version of bankruptcy is right for your specific situation. In Chapter 13 bankruptcy, filers can enjoy the following benefits:
- Consolidate all of their debt
- Organize a repayment plan with a trustee
- Gradually pay off debt over several years
- Prevent a foreclosure or repossession
- Prevent losing tax refunds
More and more people are discovering the benefits of Chapter 13 bankruptcy, particularly because they can sometimes keep valuable assets such as their homes and vehicles during the bankruptcy process.
Contact Us
Filing for bankruptcy can be a difficult decision to make, but it can also be the best choice to make if you are facing financial hardship. If you or someone you know is struggling with mounting debt, contact a knowledgeable Chicago Chapter 13 bankruptcy lawyer at the Law Offices of Stuart B. Handelman today by calling 312-360-0500.
