Posted on: 04th May, 2010 11:29 am
My husband and I make about $7000.00 per month our expenses are about 5500.00 per month, our layer told us we have to pay back 100% in a chapter 13 at 5100.00 per month is this correct or are bankrupcy lawyers different. Should I find a new lawyer. This just seems funny to me
Hi yobettylou,
Chapter 13 helps in reorganizing the debts of the borrower. In this case, the debts are not forgiven. Rather, the lender would give you a payment plan and you will have to make the payments as per the plan. This payment plan will depend upon your financial situation. To know more about Chapter 13, check out the given page:
http://www.mortgagefit.com/bankruptcy/chapter13.html
Thanks
Chapter 13 helps in reorganizing the debts of the borrower. In this case, the debts are not forgiven. Rather, the lender would give you a payment plan and you will have to make the payments as per the plan. This payment plan will depend upon your financial situation. To know more about Chapter 13, check out the given page:
http://www.mortgagefit.com/bankruptcy/chapter13.html
Thanks