| Description: | When you file Chapter 13 bankruptcy, you figure out a deal with your creditors to pay them back over a period of time. Debtors can sell their home or showing a 60-month plan to bring current any mortgage payments that are in delinquent. Under some Chapter 13 repayment programs where individuals haven't made all their previous mortgage payments and have substantial unsecured debt, they might only have to pay back 5 % on any amount that has yet to be paid. When the bankruptcy court approves the repayment schedule, and given that the debtors follow the payment schedule, their home can not be seized by loan companies. If you have questions about Chapter 13 bankruptcy and need advice about getting from under financial debt and getting the harassing phone calls to stop, contact The Law Offices of Robert Manchel in New Jersey right away. |
