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Chapter 13 bankruptcy might provide relief in this economy

The downturn of the economy in recent days is frightening to many people. They just don't know how they're going to make ends meet. The bills don't seem to stop, but the money just isn't there to pay for everything. For people who still have an income that can pay the basic bills, there is a chance that a Chapter 13 bankruptcy might be beneficial.

When you file for this type of bankruptcy, you aren't just writing off your debts. Instead, you'll make regular payments to the bankruptcy trustee. That money is then divided between your creditors so they can recover some of the money they are due. There is a time limit, usually three to five years, for these cases. Once you make the court-ordered payments for the required time, the remainder of the balance due is discharged.

We understand that most people want to keep up with their bills. There is a chance that everything going on lately has negatively impacted you to the point that it isn't possible to do that. When you're in this position, it's best to act quickly. Not only does this take some of the financial stress off you, it also lets your creditors know exactly what to expect.

There are specific requirements for filing bankruptcy. We're here to help you learn what you need to do and what will happen during your case. Whether you have credit card bills, medical bills or something else, we're here to help you find the financial relief you need to get a fresh start with your finances.

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