| Description: | Under Chapter 13 bankruptcy, debtors propose an agenda to repay creditors as time passes. You have two options relating to your home. You are able to sell it or come up with a strategy to pay back any past due balance over 60 months. Under some Chapter 13 repayment plans where debtors haven't made all their previous mortgage payments and have high credit card debt, they may only have to pay out five percent on any amount that has yet to be paid. Once the bankruptcy court approves the repayment plan, and so long as the debtors follow the payment schedule, their home can not be seized by creditors. In the event you struggle with unmanageable harassment and financial debt from collection and creditors companies, you may want to look at scheduling a consultation with New Jersey's Law Offices of Robert Manchel regarding Chapter 13 bankruptcy defense. |
