Are you considering filing chapter 13 bankruptcy? Do you know what you will be getting yourself into? There are many options that you choose from instead of chapter 13 bankruptcy. Here is what you can do instead of filing for bankruptcy.
First, you can contact your local priest or pastor to get some help with your debts. They will either have a volunteer in their church that can help or it could be them. This is free and they can help you put together a budget so that you can pay off your debts.
Second, you can hire a debt consolidation service. These come in not for profit and for profit and will allow you to get out of debt. Your fee will be about as much as you would pay a lawyer and you will save yourself the embarrassment of having a bankruptcy on your record.
Third, you can refinance your home or you can take out a second mortgage. This is a great way to consolidate your debts if you are a home owner. You will be able to pay off your debts and avoid filing for chapter 13 bankruptcy, which can and will hurt you for many years to come.
Last, you can file for chapter 13 bankruptcy, but all it really will do is give you a court ordered repayment plan. This does not help you much because the credit counseling service can do the same thing for you and they will keep the word bankruptcy off your credit report. This is a last resort option and should never be used unless the situation is desperate.
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Chapter 13 Bankruptcy