Chapter 13 bankruptcy is referred to as a wage earner’s plan. It is designed to help a person repay their debts within three to five years. There are several reasons that you should consider filing for chapter 13 bankruptcy in Montgomery, AL.
If you are getting ready to lose your home, then you may be able to save it if you file for chapter 13 bankruptcy in Montgomery, AL. You may be able to stop the foreclosure and catch up on your delinquent payments. You won’t have the opportunity to make up missed payments if you file for chapter 7 bankruptcy.
Help With IRS Debt
Tax debt is one of the worst types of debt that you can have. The IRS has the power to take your home, business and any other property that you own. However, chapter 13 bankruptcy can help you with your IRS debt. You can catch up on your tax payments. You may also be able to get liens removed from your bank account and property.
Easier to Repair Your Credit
Bankruptcy is one of the worst things that you can have on your credit. However, it will be a lot easier for you to repair your credit if you file for chapter 13 bankruptcy. Chapter 13 bankruptcy only stays on your credit report for seven years. Chapter 7 bankruptcy will stay on your report for 10 years.
If you want to file for chapter 13 bankruptcy in Montgomery, AL, then you can contact David Weston, Attorney at Law at Visit the website