When you do not have the funds to make your mortgage or car payment when they become due is a difficult time. Missing these payments can happen to anyone because at any time unexpected expenses can arise or your income could decrease.

After you miss one payment it can be difficult to catch up. You are then in a situation where you have to make the current payment as they become due, while also trying to make the past-due payments. This can lead to penalty fees and possibly many months of missed payments.

After a missed payment or two, your car is in jeopardy of being repossessed. After many missed mortgage payments your home is in jeopardy of foreclosure.

There is a bankruptcy solution that may be right for you. Chapter 13 bankruptcy creates an opportunity for people to catch up on their missed mortgage payments and missed car payments over time.

How Chapter 13 Bankruptcy Helps You Catch Up On Missed Mortgage or Car Payments

Chapter 13 bankruptcy sets up a three to five-year repayment plan to help you repay some or all of your debt.

  • Mortgage arrears (the amount you are behind on your mortgage) are included in the repayment plan.
  • Missed car payments are included in the repayment plan.

This gives you the opportunity to catch up your payments over the life of the bankruptcy repayment plan. Each month you would make a payment to the Bankruptcy Trustee assigned to your case, then he or she will distribute those payments to your mortgage lender, car note holder, and other creditors to whom you owe money.

Filing for Chapter 13 bankruptcy might be the solution for you to save your house from foreclosure or your car from repossession.

Bankruptcy is a complex area of federal law. In particular, the ins and outs of Chapter 13 can be complicated. Here at the Law Offices of Barbara B. Braziel we have filed thousands of successful Chapter 13 bankruptcy cases over the past 35 years. We are standing by to answer your questions about bankruptcy in Georgia. Call us right now (912) 351-9000  to schedule a free consultation.

Find out more about being debt free in our guide: All About Debt Relief

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We proudly serve the people of Savannah, Richmond Hill, Hinesville, Pooler, Port Wentworth, Tybee Island, Clyo, Ellabel, Midway, Springfield, Pembroke, Brooklet, Garden City, and Ludowici, Georgia.

We are a debt relief agency. We help people file for bankruptcy relief under the U.S. Bankruptcy Code.

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