You’ve reached the end of your rope when it comes to dealing with debt. No matter what you try, it only seems to make things worse. While you never thought the day would come when bankruptcy seemed like the only solution, it has arrived. You may find that filing Chapter 13 San Jose is right for you. Here are some reasons why this may be true.
One has to do with the type of debt that you owe. Some of it cannot be dismissed as part of a Chapter 7 bankruptcy, or can only be dismissed under a narrow range of circumstances that don’t apply to you. In order to have enough protection to get things back on track, Chapter 13 is the only way to go.
Another reason is that you do want to repay as much of the debt as possible. That can’t be done if interest and penalties keep piling up. A Chapter 13 freezes any additions to the debt and provides a repayment plan that allows you to retire all or most of the debt within three to five years. That means a lot to you personally.
It’s also a good idea to consider filing Chapter 13 San Jose when creditors are already beginning to threaten legal action. If successful, their suits would only drive you deeper in debt and make it that much harder to get back on your feet. With Chapter 13, all those efforts come to a halt, and you are under the protection of the court for as long as the bankruptcy remains in effect.
Talk with a lawyer today and find out what options are open to you. Once you know what they happen to be, it will be easier to select the one that’s in your best interests.
For more information, please contact the Shulman Law Office today.