If Your Economic Circumstances Change, So Can Your Bankruptcy Plan
Posted By Steven J. Richardson on May 13, 2010
One of the intimidating parts of a chapter 13 bankruptcy is the plan of repayment, which can be anywhere from three (3) to five (5) years long, depending on your circumstances. People fear that they are locking in to something now that they might not be able to afford in a year or two due to a job loss, disability, increase in expenses, and the like. However, oftentimes there is a solution that will keep you on track to your fresh start. An interesting post on this topic is available on the Bankruptcy Law Network.
If you run into a situation where you can no longer afford your plan payment, you need to contact your attorney right away to see if he or she can make the necessary corrections to keep you moving forward.
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