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4 benefits of bankruptcy

If you are like most people, you probably think that bankruptcy is something that should be avoided at all costs. But, if you have recently found yourself behind on car payments or maybe the mortgage on your home in Jackson, and you are running out of options to get your debt under control, bankruptcy could be the right choice. When credit counseling is not enough to get your finances back on track, bankruptcy could be your chance to get out of debt.

Do you qualify to keep property in a Chapter 13 Bankruptcy?

If you face serious personal debt and need help creating some breathing room to get control of your finances, a Chapter 13 bankruptcy may offer what you need. Chapter 13 operates unlike other forms of bankruptcy that require a people to liquidate most or all of their personal assets to pay off whatever debts they can. Instead, Chapter 13 allows those who qualify to create a plan to pay off their debt over time, using existing income.

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