Transform Financial Woes Chapter 13 Bankruptcy Payment Plan
The Benefits of a Chapter 13 Payment Plan
One of the primary advantages of a Chapter 13 payment plan is the ability to save your home from foreclosure. By incorporating delinquent mortgage payments into your repayment plan, you can catch up over time and prevent the loss of your home. Additionally, Chapter 13 can protect co-signers from creditor actions, offering a layer of security for your loved ones. The plan also allows for the rescheduling of secured debts, extending them over the life of the Chapter 13 plan, which may lower payments1.