Nearly everyone filing for Chapter 13 bankruptcy does so with the best of intentions. Everyone wants their Chapter 13 to succeed, particularly if they have chosen Chapter 13 specifically so they can protect certain assets they want to hang onto. However, any Chapter 13 bankruptcy attorney in Philadelphia can attest that sometimes bankruptcies do fail.
You filed for Chapter 13 bankruptcy and your debt was discharged; congratulations! You are well on your way to building a new life. While you are working on that fresh start, here are a few tips from an Alfred Abel Law Offices Chapter 13 bankruptcy attorney about what you should do next.
Bankruptcy is a tool that allows people who are insolvent to seek protection from the court, to assist them in reorganizing their debt and finances. In exchange for the protection and debt reorganization (or forgiveness), bankruptcy may affect your credit which can impair your ability to secure mortgages, favorable interest rates, car loans, and many other debt tools. A Chapter 13 bankruptcy attorney from Alfred Abel Law Offices reviews the effects of bankruptcy and compares those against the benefits offered.
