Capter 13 compared to traditional debt consolidation-The Bankruptcy Law Offices of Mark S. Zuckerberg, P.C.

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Pays Your Most Important Bills First:
A Chapter 13 bankruptcy plan pays off most secured loans first, taxes and co-signed debts second, and delays payment of unsecured debts to last. The majority of the initial Chapter 13 payments can be applied towards mortgage and automobile payment defaults. Then, your money goes to pay overdue taxes and co-signed debts. Credit cards and medical bills can be paid after these secured and other priority claims have been paid off. Credit counseling repayment plans, for instance, don't have the power to delay payments to unsecured creditors.... without penalty.... or to give preferential treatment to your car or home finance companies. 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

Call the Bankruptcy Law Offices of Mark S. Zuckerberg, P.C.
Call today for a FREE Debt Consultation.
Call toll free 1-800-779-3900.