Chapter 13 Bankruptcy
With a Chapter 13 bankruptcy, a court-ordered repayment plan is established to repay all debts that are legally required to be repaid. This payment to creditors is frequently a small percentage of what is actually owed.
Chapter 13 bankruptcies can also help preserve security clearance levels because a Chapter 13 repayment plan is viewed more favorably than a Chapter 7 bankruptcy where creditors frequently receive no money.
Chapter 13 also allows you to potentially reduce the interest rate owed on a vehicle or furniture loan. It can also allow you to catch up your mortgage payments and stop a foreclosure.
Service Member Debt Relief offers Chapter 13 bankruptcy services to current and former members of the armed forces and their family members with no money down.
Contact Service Member Debt Relief today to discuss with an experienced Chapter 13 attorney what your possible repayment plan might look like in a Chapter 13 bankruptcy.