Chapter 13 has more power than straight Chapter 7 bankruptcy. In a Chapter 13 Bankruptcy case you can:
Stop foreclosure and force the mortgage company to accept payments to catch up
Pay back debts like taxes that cannot be erased by bankruptcy
Erase your second mortgage. If your home is worth less than you owe on your first mortgage. You can strip the second mortgage lien off your 
house and erase it like any other unsecured debt.
Chapter 13 works like a consolidation program where you make a single payment each month to a Trustee who then pays creditors according to your plan of reorganization. You will pay secured creditors the value of their collateral. You will pay unsecured creditors just what you can afford to pay, sometimes as little as a penny on the dollar.
Chapter 13 is more difficult than straight bankruptcy. But, if you need any of the extra powers that are available in Chapter 13, then it is worth pursuing. If you're in Chillicothe or Circleville and considering chapter 13 bankruptcy, call Michael Warren today for a free consultation.
Let Michael Warren and Warren Law Firm help you get back on track.
We'll answer your Questions, dispel the Myths and help you determine whether Bankruptcy is right for you.
Check-out our Brochure for even more information about Warren Law and the bankruptcy process.
