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Alfred Abel Explains 4 Reasons Why Chapter 13 Bankruptcy Might Fail

A Bankruptcy Lawyer explains shy Chapter 13 Bankruptcy Might Fail - image of a maze with a broken dollar sign superimposed over the top

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.

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A Chapter 13 Bankruptcy Attorney Discusses the Effect of Bankruptcy on Your Credit

chapter 13 bankruptcy attorneyBankruptcy 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.

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