![]() The aim is to find a repayment plan that works with your available income. ![]() On the other hand, in Chapter 13, reorganization is the form of bankruptcy. Experienced Chapter 7 Bankruptcy Lawyers Milwaukee or lawyers in your area, will help you to wipe away your debt allowing you to make a fresh start, stress-free. You can liquidate your assets and use the money to repay your creditors. Under Chapter 7, the form of bankruptcy is liquidation. ![]() The main difference between the two is the form of bankruptcy. Understanding Chapter 13 BankruptcyĪre you considering filing bankruptcy? You can either file bankruptcy under Chapter 7 or Chapter 13. Still, bankruptcy remains a good option when your debts exceed your income, and you can no longer make debt payments as agreed. Other times, the dismissal is linked to poor financial decisions. Sometimes the dismissal is due to unexpected circumstances like medical expenses. Unfortunately, most Chapter 13 cases are dismissed. Once your legal representative files a bankruptcy petition, all outstanding debts are calculated and some can be dismissed while the rest can be repaid under a new plan. When you get to this point, you can choose to file for bankruptcy.įiling for bankruptcy is a legal procedure that helps individuals free themselves from debt obligations. ![]() Have you recently gotten a letter from PO box 1120 charlotte NC? It may be a creditor reaching out to let you know they will file a lawsuit if you cannot catch up on your payments. When you cannot repay your debts or financial obligations, you may start getting communication from entities you haven’t heard of before. This article will help you understand different factors that could adversely impact the success of your bankruptcy case and how to avoid dismissal. There are different reasons why Chapter 13 bankruptcy could end in dismissal- some accidental, and some unexpected. While filing for bankruptcy could help you get out of debt, in some cases, bankruptcy claims end in dismissal. ![]()
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