What happens when I can no longer afford my Chapter 13 case?

The national success rate for Chapter 13 cases is approximately 33%. It has also been reported that if a bankruptcy is filed, Chapter 13 is the better way as it helps all parties. The debtors are at least paying something on their debt. Creditors are happy to get at least some of the money owed to them. And in the grand scheme of things, commerce continues to work. However, many times, those debtors who go the route of Chapter 13 experience a change in circumstance that was not expected. … [Read more...]