Have you ever had a “consolidation loan?”

This is  a loan where all of your debt is refinanced and you pay only one payment.  For those who need debt relief now, a consolidation loan makes a lot of sense.

One payment, every month, for all of your debts.

Here’s the problem:  Most folks who need a consolidation loan can’t qualify for one.

Here’s the solution:  Chapter 13 Bankruptcy in Knoxville

You see, if you live in Knoxville, Sevierville, Maryville or Jefferson City you can create your own “consolidation loan” by filing a Chapter 13 Bankruptcy and completing a Chapter 13 Repayment Plan.

Essentially, a Chapter 13 Plan helps you pay what debt you can with the money you have left over after paying your living expenses.  You’ll have to pay for between 3 and 5 years (usually 5 years) but when you are done, usually your cars are paid for and all other debts are paid in full except for your home mortgage.

The first month after completion of your plan you re-commence paying your home mortgage.

Sounds good doesn’t it!

We file Chapter 13 bankruptcy cases in Knoxville whether you live in Knoxville, Sevierville, Maryville or Jefferson City.  Bankruptcy is a serious action so only take it after consulting with an experienced bankruptcy attorney.

We offer a free consultation to explain your options.  Give me a call at 865-246-1050 to set up the consultation.