Chapter 13 bankruptcy is a debt repayment plan for individuals. There is a limit on the total secured and unsecured debt which you can claim. You will repay a portion or all of the money you owe over a period of time, usually three to five years. Your payments are determined based upon your income and assets. As long as you make your payments under the plan, you retain all your property.
Stop Mortgage Foreclosure
Chapter 13 can be used to help individuals who are behind on house payments, or even facing mortgage foreclosure . Chapter 13 bankruptcy may be the solution to keeping your home. By filing you can stop the foreclosure, and then catch up on your payments and remain in you home, even though your lender has been unwilling to work with you in the past.
If you are facing mortgage foreclosure and are not sure what to do, please contact Orlando Bankruptcy attorney, Randy Maddox .