If you have come to a point in your life where you are unable to keep up with your financial obligations, it may be time to think about applying for a Chapter 13 Bankruptcy in Fairfield OH.
If you are in danger of losing your home or any other possessions that you may have, you need to think quickly. If your mortgage company has already threatened to take your home, it’s important to remember that it’s not too late. Before you start packing, consider applying for a chapter 13 bankruptcy.
Basically, this is a bankruptcy where you will pay back a portion of your bills. Usually, your creditors are happy to work with you because they don’t want to have to take a total loss if you were to file a chapter 7 bankruptcy. As long as you keep up on your monthly payments, you should have no problems staying in your home.
R. Dean Snyder, Attorney is going to be there to answer your questions. He understands that this is something that you are confused about and he is going to walk you through this process. He will look at your debt and then he will talk with your creditors to find out how much they are willing to settle for.
You will have to go to court for your Chapter 13 Bankruptcy in Fairfield OH. At this point, you will be given the information as to where you will send your monthly check. The court will divide your money and make a payment to your creditors. They will continue to do this until your debt has been paid. Usually, they will spread this out for a certain amount of time. For example, five years.
It is important to remember that a chapter 13 bankruptcy is going to go on your credit score. This is something that will remain on your credit score for a minimum of seven years. You will have lenders who are willing to give you a second chance. However, they may charge a higher interest rate. Carefully look over any paperwork before you sign it. Filing a bankruptcy is going to relieve a lot of stress from your life.