Determining Whether Chapter 13 Bankruptcy Is Right For You

There are two main types of consumer bankruptcy — Chapter 7 and Chapter 13. Both are designed to give you a fresh start by getting rid of debts you could never possibly pay back.

How do you know which type of bankruptcy is right for you? It all depends on your unique situation. Only certain people can qualify for Chapter 7. In some cases, Chapter 13 may be your only option; in others, it may simply make more sense for what you're trying to accomplish.

The most important step you can take is to speak with a lawyer about your circumstances. At Debra L. Broz, Attorneys at Law, PLC, we can help you pursue the right course of action for getting out of debt. From our office in Bowling Green, we work with people from all walks of life across Warren County and south-central Kentucky.

At our firm, you won't have to worry about the financial aspect of enlisting legal help; we offer affordable payment plans.

What's Involved In Chapter 13?

Chapter 13 bankruptcy involves consolidating your debts into a single, affordable monthly payment. Over the course of a three- to five-year debt repayment plan, you will steadily chip away at your debts. At the end of the repayment plan, any qualifying debts that remain unpaid will be wiped away.

You could benefit from Chapter 13 bankruptcy in many ways. For example, if you are behind on your mortgage payments and facing the possibility of foreclosure, Chapter 13 can give you the opportunity to catch up. It can also get rid of second mortgages on homes that are underwater. Like Chapter 7, it provides immediate benefits such as stopping creditor harassment, wage garnishment and collections lawsuits.

Discuss Your Options For Becoming Debt-Free

Learn more about your options for getting out of debt — including whether Chapter 13 bankruptcy is right for you. To get started, call 270-282-7975. Someone is available to take your call anytime, day or night.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.