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Hounded by debt collectors? Make the law fight for YOU

There are hundreds of ways to find yourself being harassed by debt collectors, but the exact details of how you got here are not important. What is important is how you are going to get things back on track.

For a long time, the term "bankruptcy" has carried a harsh stigma, which is not always fair. Not all debts nor all bankruptcies are the same. If you are being hounded by creditors, the law can offer some concrete methods for you to take back control of your situation without completely leaving your creditors hanging.

Chapter 13 Bankruptcy offers a fair path forward

Maybe you are constantly hounded by phone calls, or maybe things have gotten a little more serious - you're facing the repossession of a vehicle or the foreclosure of your home.

The good news is that, in many cases, you do have some options.

If you choose to employ a Chapter 13 bankruptcy, you will not be automatically forgiven for what you owe. You will, however, be able to start making affordable payments to your creditors and put a halt to some of the creditors' harsher collection tactics.

Chapter 13 Bankruptcy differs from the traditional image of bankruptcy in that it is not so much an abandonment of one's debts, but a restructuring of repayment that uses the muscle of the law to help you make good on what you owe.

Why would you consider Chapter 13?

Chapter 13 works by giving you the opportunity to set up a tenable repayment plan to your debtors, generally over a period of three to five years. In addition to granting you some much needed relief, Chapter 13 plans can be used to deal with many debts that other forms of bankruptcy, such as Chapter 7, cannot alleviate.

If you are facing a foreclosure, filing for a Chapter 13 plan can place an automatic stay on the foreclosure process, giving you time to catch up and some room to breathe.

Similarly, if you are facing the repossession of a vehicle, you can keep the vehicle from being taken, and under certain circumstances may be able to reduce the overall amount that is owed.

Chapter 13 can help protect more than just you

What if you have a co-debtor? Chapter 13 can be an excellent option for protecting those who are cosigned to your obligations. Once the creditor is receiving payment through a Chapter 13 plan, a co-debtor is no longer held liable for the debt. In this case, however, it is important to note that if the plan ends and there is still some outstanding debt, the creditor may seek the out the co-debtor again.

Start getting out from under that debt pile today!

You know that you've been carrying the weight of your debt long enough. It's time to change the game and start repaying your creditors on fair terms that you can afford to handle. If you are ready to stop thinking about that debt all day, every day, then talk to a legal professional with experience in filing Chapter 13 bankruptcies and start taking control of your life again!

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Law Office of Ginger C. Cord, PSC
155 E. Main Street
Suite 330
Lexington, KY 40507

Toll Free: 800-762-6916
Phone: 859-963-2073
Fax: 859-254-2192
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