The Chapter 13 Bankruptcy is a type of bankruptcy
in which you make payments every single month. Often Chapter 13 is used by clients who are
not eligible by Chapter 7 because they need to pay something back towards their creditor
and also by people who are facing by foreclosure, behind on their mortgage payments, behind
on car payments they wanna take the opportunity to get current or restructure their car bankruptcy
to more favorable terms, people who are behind on IRS taxes. One of the biggest benefits of a Chapter 13
Bankruptcy case for taxes is, as soon as we file the case it freezes all the penalties
and all interest. As well, certain tax years are getting discharged
without you making any payments towards them. So Chapter 13 is the most powerful consumer
credit consolidation that you could ever hope for. It’s got the Federal Law behind it, it’s
able to caught up on things that you wanna get caught up on, and discharge the things
that you need to discharge.