If you have a stable source of income, filing for bankruptcy under chapter 13 should be your best bet. This way, you can get rid of all your debts without having the fear of foreclosing your property.
Under chapter 13, you get to catch up on all your arrears by repaying your debts within a time period of 3-5 years. That is why, this is one of the most preferred ways for most filers. As scary as filing for bankruptcy may be, chapter 13 is considered a safe bet. No doubt that your credit score will be affected tremendously when you file, however it will have a lesser impact as compared to chapter 7.
Also, filing for bankruptcy under chapter 13, will help you safeguard and keep your property which you may have to otherwise surrender had you filed for bankruptcy under any other chapter. If you are looking to file for bankruptcy, it is important that you get a good consultation from the professionals before going ahead. To book an appointment, log on to – https://www.recoverylawgroup.com/bankruptcy/ or call on – 888-297-6203