If you’re living in the Topeka area and you’re contemplating Chapter 13 bankruptcy, you may wonder about the pros and cons of such a decision. Most people know that filing for chapter 13 in Topeka, KS will affect their creditworthiness, but they don’t realize that it may have benefits as well. With help from Joseph I. Wittman, Attorney at Law, you can get the fresh financial start you deserve.
Benefits of Chapter 13 Filing
biggest advantages of chapter 13 bankruptcy are numerous and are
stops lawsuits, wage garnishments, and collection efforts
of credit card, payday loan, and medical debt
allows for tax elimination or a repayment plan in some circumstances
of student loan repayment
bankruptcy lawyer can tell you more about the benefits of Chapter
13 in Topeka, KS.
of Chapter 13
the benefits outweigh the drawbacks for most clients, they’re still
worthy of consideration. The disadvantages of chapter 13 include:
long-term payment plan of three to five years
for those with more than $1,149,525 in secured debt
you can’t repay your debts during the plan period, the remaining
dis-chargeable debt will be handled the same as in a chapter 7
case–it will be eliminated.
you’re considering filing for bankruptcy but you’re not sure
which chapter suits your circumstances, contact Joseph I. Wittman,
Attorney at Law today. With help from him, you can eliminate many of
your debts and get a fresh start. Visit
more information or call to schedule a consultation.