Advantages and Disadvantages of Chapter 13 Bankruptcy

By any stretch of the imagination, it is difficult to apply the word advantage to the scenario of bankruptcy. Once this word begins to enter your vocabulary frequently, and you are not actively working in this area, something has gone wrong. Whether an unexpected illness drained your family’s accounts or you took on an insurmountable amount of debt, bankruptcy acts as a clean slate for many individuals. While different forms of bankruptcy occur around the country, chapter 13 occurs quite often in Orlando, Florida. If you find yourself in this predicament, a chapter 13 lawyer Orlando fl will assist with determining if this is the right process for you.
Assessing the Advantages of Chapter 13 Bankruptcy
One of the most significant advantages of chapter 13 bankruptcy involves remaining in possession of the property that you would typically lose in the event of bankruptcy. Since this is most likely to be …