Benefits of Chapter 13 Bankruptcy

With the economy still reeling with uncertainty and unemployment still hovering close to double-digits, many people are still having trouble digging out from under debt.

2011-06-10

June 10, 2011 (Press-News.org) Benefits of Chapter 13 Bankruptcy

With the economy still reeling with uncertainty and unemployment still hovering close to double-digits, many people are still having trouble digging out from under debt. As a result, more and more people are turning to bankruptcy to help get their financial lives back on track.

According to the American Bankruptcy Institute, bankruptcy levels rose 9 percent in 2010, with over 1.5 million people filing for personal bankruptcy. But for those thinking about bankruptcy, there are different types to consider. In some cases, one Chapter may be more appropriate than the other.

Chapter 13 vs. Chapter 7

Chapter 7 and Chapter 13 bankruptcy have some stark differences between them. In a Chapter 7, assets are liquidated to pay off creditors. Unsecured debt is discharged, meaning that it does not have to be paid back.

In a Chapter 13, however, the debt is consolidated into a three to five-year payment plan. You spend that time getting your finances in order and paying off your debt. People generally find the payments to be more manageable when spread out over time.

While both Chapters offer the protection of an automatic stay, which forbids creditors from starting or continuing collection actions, Chapter 13 offers that protection throughout the life of the repayment plan.

Saving Your Home

One of the biggest benefits to Chapter 13 is the ability for people to save their homes. For those with trouble meeting mortgage payments or falling behind, Chapter 13 allows them to repay the delinquent amounts over the life of the repayment plan, spreading the amounts over the three to five--year period.

Is it Right for You?

Chapter 13 can offer consumers the chance to save assets and their homes. But the process can be complex and may not be right for everyone. If you find yourself falling into financial trouble, contact an experienced bankruptcy attorney for advice.

Article provided by MIchael E. Plummer & Associates
Visit us at http://www.plummerbankruptcy.com

ELSE PRESS RELEASES FROM THIS DATE:

Technology Associates And Lenovo Partner For Executive Briefing June 22

2011-06-10

Eric Hobbs, president of Technology Associates (http://www.technologyassociates.net), a full-service technology solutions and support firm, has announced that the firm will partner with Lenovo to host an executive briefing for business owners and managers with 10 to 100 desktops on Wednesday, June 22 from 11 a.m. to 4 p.m. at the Lenovo Briefing Center, located at 1009 Think Place in Morrisville. Featuring a Lenovo product showcase tour, the event allows attendees to acquire new product information on the Lenovo ThinkCentre desktop and ThinkPad Notebook solutions, as well ...

Florida Law Firm Lydecker Diaz Expands Miami Presence, Takes 23,000 SF at 1221 Brickell Avenue Office Tower

2011-06-10

The continued growth of Florida law firm Lydecker Diaz is resulting in positive absorption for Miami's class A office market, with the firm expanding into a 23,000 square foot space at the 1221 Brickell Avenue office tower. The newly-completed transaction, one of the largest signed in the Downtown Miami/Brickell submarket so far this year, adds roughly 5,000 square feet of space to the law firm's Miami headquarters. Financial terms of the agreement were not disclosed. The relocation from the 1201 Brickell Avenue Tower reflects Lydecker Diaz's dramatic growth over the ...

Travel2Italy Announces Rome Luxury Sweepstakes Winner

2011-06-10

The Rome Luxury Sweepstakes prize included 4 nights at Rose Garden Palace with breakfast, private roundtrip transfers and a half-day Day Private Walking Classical Tour (Coliseum, The Rome Forum. Capital Hill & more) with a Licensed Guide The drawing took place May 12th and included 4,246 entries who participated through the Travelive Facebook Sweepstakes page. The Rome Luxury Sweepstakes ran from April 11th through May 11th and it was advertised through various social media outlets including Facebook and Twitter. Sheri Chymy will have the opportunity to spend ...

MarriageRetreatsTips.com Has Launched, Offers Retreats Tips For Married Couples

2011-06-10

The creator and webmaster behind http://www.marriageretreatstips.com has announced the release of a new website, created for married couples who wishes to improve their marriage by going to a retreat. These days when people have a problem or wish, they often search for information online to help them find what they need. Tina Hanson, which is the owner, said she noticed when doing some research that many married couples were looking for marriage retreats tips and recommendations. "Many couples are experiencing problems in their marriage. Going on a retreat together ...

FDM Group Offers Graduates a Taste of the Industry

2011-06-10

As the UK's largest IT graduate recruiter, FDM Group, is offering those with an interest in the IT industry the chance to benefit from a series of free taster sessions. FDM aids graduates in overcoming the Catch-22 hurdle of qualifications without experience by providing the valuable combination of industry centred training and real commercial experience. The rapidly expanding company has launched over 2,500 graduate careers to date and aims to recruit 1,000 candidates this year alone. To celebrate its achievements FDM will be running complimentary training sessions ...

GTECH G2 announce EUR2 Million investment into the International Poker Network

2011-06-10

GTECH G2, the operators of the International Poker Network (IPN) have announced a EUR2 million investment into the IPN. The investment will deliver players on the IPN with bigger and better promotions and tournaments. Creating the ultimate poker experience for any player is something GTECH G2 are 110% committed too. This investment is an important part of continually rewarding existing new players and attracting new players to the network. In conjunction, with the EUR2 million investment into the IPN, GTECH G2 is investing significantly in its poker software by doubling ...

Shirtlab's Unique Volunteers Week Charity T-shirt Designed by Nick Sharrett Raises Money for Muscular Dystrophy Campaign

2011-06-10

Shirtlab, a leading personalised T-shirt design website, has collaborated with Volunteering England to offer a T-shirt design competition and also raise awareness of charitable causes which depend on volunteers. As part of the Volunteers Week celebrations, Nick Sharratt, illustrator of the Tracy Beaker books written by Jacqueline Wilson has designed a special Volunteers' Week t-shirt featuring the famous character. The t-shirt is available to buy from the Shirtlab website, with GBP2 donation from the sale of each benefitting the Muscular Dystrophy Campaign. For more information, ...

Aria sign's up Fashion Circle USA as a Gold Certified Reseller

2011-06-10

Fashion Circle USA and its parent company, FY Global Inc., offer managerial and executive outsourcing services to start-ups, small and mid size apparel companies. Supervises, control and directs all aspects of operations such as Back Office Management & Logistics, Bookkeeping & Collections, Brokerage & Customs Clearance, Credit Card Setup and maintenance, Customer Credit Check & Factoring, E-commerce & IT Services, EDI Management, Inbound/Outbound Insurance, Ocean & Air Freight Forwarding, Operations Management, Retail Merchandising, Sales & ...

Teleskill Live Videoconference lands in Latin America: the E-Learning at the base of the partnership with the Puertorican RH Interactivo

2011-06-10

Teleskill Italia and RH Interactivo will co-operate in the e-learning sector, thanks to an agreement aimed at launching the Live Videoconference into the Latin American market. Teleskill Italia has chosen RH Interactivo as its official partner for the commercialization of the platform Teleskill Live Videoconference in the Latin American markets, where the Puertorican company has extensive experience and a wide range of partners to which it offers several solutions to optimize business processes optimization, online training and e-learning. The present situation of the ...

European activities of the Gonarezhou Transfrontier Park are raising awareness about Mozambique

2011-06-10

One of the many projects and activities that the park was part of lately was the internationally known traditional charity project - The Great Gorilla Run. Gonarezhou Transfrontier Park has become the general partner of The Great Gorilla Run 2011 in Prague. The event, which took place on Saturday May 28th 2011, received its main prize from the Gonarezhou Transfrontier Park - it was a one of a kind vacation in Mozambique for two. The Great Gorilla Run is a special event of its own kind, one that tries to help to save the western lowland gorillas, which are in threat of ...