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What if I Do Not Qualify for Chapter 13 Bankruptcy?

If you are struggling with an intense level of personal debt, consider filing for bankruptcy. Individuals in this situation can file for Chapter 13 or Chapter 7 bankruptcy, depending on the chapter for which they qualify. Often, it is easier to qualify for Chapter 13 bankruptcy, but this is not always the case.

Consider Chapter 7 Bankruptcy

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Exploring Your Bankruptcy Alternatives

When you feel like you cannot get your personal debt under control, filing for bankruptcy can be an attractive option. For many individuals, bankruptcy is the key to having their debts discharged and moving forward with their lives. Although bankruptcy can be a great tool, it is likely not your only option. Depending on your circumstances, you might be better suited to one of the bankruptcy alternatives discussed below. Never make a decision about filing for bankruptcy without first discussing your situation and your options with an experienced bankruptcy lawyer. You could have more options than you realize.

You Might be Able to Consolidate your Debts

When you have a lot of debts to pay off, one of the challenges you face is simply keeping each payment's due date and required amount straight. A way you can make this easier for yourself is to obtain a debt consolidation loan, which is a single loan that pays off all your existing debts, leaving you with only the one loan to repay. Typically, these loans take two to five years to repay through fixed monthly payments.

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