Obtain a fresh financial start with Chapter 13

Getting out of debt is rarely easy. Obtaining a fresh financial start can be even more difficult, as debt relief is often just one element in the larger picture of financial management. For Mississippi residents trying to cope with debt on their own, escaping from their financial circumstances may seem impossible. However, those who consider filing for Chapter 13 often find that a fresh start is indeed possible.

What is Chapter 13 bankruptcy? Under the terms of a Chapter 13 bankruptcy, a debtor often sees their qualifying debts reduced and agree to a repayment plan of three to five years. The repayment plan involves manageable payments which allow the debtor to demonstrate their ability to make timely and complete payments. In addition, at the conclusion of the repayment plan, the debtor's remaining qualifying debts are often discharged. Chapter 13 can also stop creditor harassment, allowing a filer to move on with their life in peace.

Chapter 13 is helpful because it allows a filer to get back on track in a step-by-step manner. The filer makes regular payments and sees their once-overwhelming debts gradually reduced through their own efforts. In addition, it helps the individual learn new financial management skills along the way. In addition to taking advice from one's bankruptcy attorney, these new skills can put a person on the right track towards financial freedom.

Trying to cope with severe financial challenges alone is rarely a recipe for success. Southaven bankruptcy attorney Heidi S. Milam has helped many local filers achieve a new start in life via Chapter 13. Attending a consultation with Heidi S. Milam can take care of the countless questions that a potential filer is likely to have about Chapter 13, Chapter 7 and personal bankruptcy in general. By actively seeking legal advice, a local resident can truly take charge of their financial future.

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