Benefits of a Chapter 13 Repayment Plan

Chapter 13 is one of four forms of bankruptcy that people facing overwhelming debts can pursue to alleviate these financial burdens. Although facing debt can be difficult and daunting, Chapter 13 bankruptcy offers a number of benefits that make it an advantageous option for many people. In fact, as we at The Coyle Law Group, know, many people in Maryland are able to enjoy the many benefits that Chapter 13 bankruptcy offers while working their way out of debt.

Several Key Benefits of Chapter 13 Bankruptcy

Several Key Benefits of Chapter 13 Bankruptcy

People who qualify for Chapter 13 bankruptcy can enjoy several key benefits of this form of bankruptcy. For instance, some of the most oft-noted benefits of Chapter 13 repayment plans include:

  • Not having to liquidate personal assets and property
  • Negotiating a longer repayment period
  • Possible lowering of interest rates, which can make it easier to repay debt
  • Stay of foreclosure
  • End of creditor harassment
These benefits have convinced many people to turn to Chapter 13 bankruptcy as an option to get rid of debt and move on with their life.

Discuss Chapter 13 Bankruptcy with a Lawyer in Maryland

Considering bankruptcy in itself can be difficult; however, when thinking about the many benefits that Chapter 13 bankruptcy can offer you, it may truly be the best option for getting back on your feet financially. To learn about the benefits of Chapter 13 bankruptcy more in-depth and to find out how a lawyer from The Coyle Group, can guide you through the entire process, call 410-884-3180.