Most of our discussions about bankruptcy and debt relief have centered around consultation with a Chapter 7 bankruptcy attorney in San Antonio, Texas. This is because Chapter 7 bankruptcy has become the most common form of bankruptcy filing for people seeking debt relief. However, there are a few advantages to filing for a Chapter 13 bankruptcy instead. Here is what you need to know before you file, according to an expert Chapter 13 bankruptcy attorney in San Antonio.
Why File Chapter 13?
In your quest for debt relief, there are certain advantages to consulting a Chapter 13 bankruptcy attorney in San Antonio. One of the biggest advantages is the fact that a Chapter 13 filing gives you a better chance of keeping your home. Additionally, Chapter 13 offers special protection for cosigners, which means that you may not risk the financial security of friends or family members. Finally, Chapter 13 bankruptcy is often associated with lower monthly payments than other bankruptcy alternatives.
Who Can File Chapter 13?
Anyone can file for Chapter 13 Bankruptcy, even if they own their own business. One of the only hard and fast rules is that you cannot have had a bankruptcy claim dismissed or denied within the past 180 days. There are, of course, certain other qualifications that must be met in order to successfully file for Chapter 13, so your best course of action is to contact a Chapter 13 bankruptcy attorney in San Antonio, Texas to find out what your options are.
Facing down extensive debts that you cannot pay is a stressful experience for anyone. However, there is no reason for you to allow your quest for debt relief to become a hasty Chapter 7 filing. Instead, contact a Chapter 13 bankruptcy attorney in San Antonio, Texas to find out whether or not you are eligible to file for Chapter 13 bankruptcy.
In addition to offering more protection for anyone who may have cosigned with you in the past, Chapter 13 less commonly results in the seizure of your home, and often comes with significantly lower monthly payments. Get the debt relief you so deserve, and call a Chapter 13 bankruptcy attorney in San Antonio today.