Chapter 13 Bankruptcy is a better option than Debt Consolidation
A Fresh Start:
Some of Chapter 13 bankruptcy benefits are:
Debt Consolidation Done Safely
Stopping Foreclosure Indefinitely
If your home is in foreclosure, a Chapter 13 bankruptcy filing will stop the foreclosure any time prior to the sale and allow you to repay your mortgage arrears through your Chapter 13 bankruptcy. You will remain obligated to make all future mortgage payments directly to the mortgage company, but it may not foreclose to collect any outstanding mortgage payments. If you have equity in your home, you can file a Chapter 13 bankruptcy, protect your equity, and repay your mortgage arrears over a five-year period.
Saving Your Vehicle From Repossession
If your car is in danger of being repossessed, a Chapter 13 bankruptcy will stop the finance company from repossessing your car. Your past-due payments and the entire balance on your vehicle loan will be consolidated into your Chapter 13 repayment plan which you will complete within five years. The vehicle finance company will no longer be able to repossess your car, and you will no longer have to make direct payments to the finance company. The only payment to be made is to your Chapter 13 trustee.
Protecting Co-Signers From Collections
If you file for Chapter 13 bankruptcy, the co-signers to your loan receive the same protection that you do. This means your co-signers will be protected from aggressive collection activity, and all creditors must wait to be paid through your repayment plan. Unless you fall out of your bankruptcy plan or convert to a Chapter 7 or 11, your cosigner is usually protected by you making your Chapter 13 plan payments.
Believing that everyone deserves a lawyer advocating for them, each case is handled personally by Alia herself along with one paralegal. Clients never feel ignored or that their case is being delayed for weeks on end.