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Chapter 13 Compared To
Traditional Debt Consolidations:

Does NOT Put Other Types Of Property In Jeopardy:
Many times, the only way to qualify for many of the other types of loan consolidations is to pledge other property you own as collateral....as, for instance, when you pledge you house to get a second or third mortgage to come up with the money to pay off some credit cards or other unsecured debts. Using this example, this puts your house at risk....because...if you can't make your payments....now....not only can the creditor come after you....the creditor can take your house. The same thing can happen when you give a creditor a second or third lien on your car or truck. In Chapter 13....you can put creditors under control without having to offer up any more of your property as collateral. Chapter 13 bankruptcies are a type of "debt consolidation" allowing you to reorganize your finances by consolidating your debts into one monthly payment. Chapter 13, however, should not be confused with other types of debt consolidation programs....such a consolidation loans from a bank or finance company OR credit counseling payment plans. Chapter 13 has the power of the Federal Bankruptcy Code behind it, and provides many advantages for people seeking debt relief:



Chapter 13 compared topics:
The Automatic Stay
Includes Most Types of Debt
Drastically Reduced Total Amount of Debt
The Force Of Law
Definite Time Period
No Interest or Late Fees
Attorney Working in Your Best Interests
Protects Equity
Pays Your Most Important Bills First
Debts Are Eliminated If The Creditor Doesn't File A Proof Of Claim
Does NOT Put Other Types Of Property In Jeopardy


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Call today for a FREE Debt Consultation.
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