Chapter 13 bankruptcy is one that can provide protection for people who are in deep debt but are unable to qualify for a Chapter 7 bankruptcy. There are many reasons why this might be the chosen option for people who need to do something to handle the overwhelming bills that they are facing.

We know that there are a lot of things to consider in these cases, but you need to make your decision quickly. Trying to wait things out could mean that you end up more in the hole than you already are. You need to remember that the ultimate goal for your situation is that you are financially stable and able to move forward with your life.

One way that this can help you is that you will have the benefit of an automatic stay if you file. This means that the creditors who might have been harassing you can’t do that any longer. They must stop collection attempts unless they head to court and successfully petition for a lift of the automatic stay.

Some individuals might worry about being able to keep their assets. While there are some assets that you will have to part with, there are some that are exempt from the bankruptcy process. We can help you learn what you will be able to hang on to and what you will have to hand over.

Because a Chapter 13, or wage earner’s bankruptcy, is a longer process than a Chapter 7, you should get your case started right away. This can help you reclaim your finances sooner rather than later.