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Bankruptcy Chapter 7 vs 13: Which Is The Best Option?

Debt Free Colorado

If you have a large amount of credit card debt or high medical costs that you can’t pay, Chapter 7 may allow you to start again. Chapter 7 is a disaster when it comes to secured debt. . Chapter 7 will not assist you if your primary source of debt is a mortgage, auto loan, or other kinds of debt.

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Should You File for Bankruptcy if a Strong Economy is Just Around the Corner

Titan Consulting

At your request, lenders must grant a forbearance for up to 180 days, renewable for up to a year with a hardship attestation. The CARES Act also requires lenders to offer repayment options that include adding missed payments to the end of the loan, a loan modification, or refinance. Take advantage of payment waivers.