You work hard to keep your finances in order, pay your bills, and support your family in Colorado. But, sometimes, despite this hard work and planning, a financial situation can crumble and you’re left scraping by and suddenly unable to fully cover life’s expenses.
Landing in this situation can be frightening, and confusing. You may be asking: how will I pay my mortgage? My car payments are piling up and I’ve been getting calls from a debt collector, how do I keep my property if I can’t pay off these debts right now? All of this can seem overwhelming, and it is, but you don’t have to figure it out on your own. There are options for getting rid of debt without foreclosing your home or losing your car.
Filing for a Chapter 13 bankruptcy could be the answer you need. Filing for bankruptcy may not be your ideal option, it may not even be your best option, but it is an option that you can discuss with an experienced bankruptcy attorney that can rid you of debt.
A Chapter 13 bankruptcy includes a payment plan set up between 3 to 5 years, and during that time you pay back all or a portion of the debts. What’s beneficial about a Chapter 13? You get to keep all of your property.