Because submitting bankruptcy has lengthy-time period fiscal implications, you must know how Chapter thirteen operates just before any Formal proceedings occur. What Chapter 13 bankruptcy is And the way it worksChapter thirteen puts a hard-pressed debtor over a repayment program and presents a variety of forms of relief. To start with, a freeze on

The position of accounts A part of your Chapter 13 repayment strategy might or might not be mirrored as part of your credit report: Creditors are not obligated to report payments received during the Chapter 13 repayment period, but some do.Your credit rating receives hit, and personal bankruptcy stays with your report for approximately seven yrs af

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