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The repayment term for Chapter 13 bankruptcy is three to five years. During that time, it is not uncommon for some people to experience changes in finances that interfere with their ability to stay current on their bankruptcy obligations. Job loss, serious illness,...
Debt is a reality for millions of people living in Mississippi and across the country. According to the National Consumer Law Center and the Consumer Federal Protection Bureau, 70 million people nationwide interacted with a debt collector during the year 2017. One...
At the end of 2018, Americans owed credit card companies roughly $900 billion. However, the Consumer Financial Protection Board says that Mississippi residents and others throughout the country aren't necessarily in a perilous financial situation. Currently, most of...
A person in Mississippi who has an open Chapter 13 bankruptcy may be able to get a vehicle loan, but there are several steps that must be taken to do this. Moving ahead without getting the approval of the court puts the bankruptcy itself in jeopardy. The person could...
People in Mississippi who are struggling to pay off their debts might consider bankruptcy as an option to reduce or eliminate them. For most individual filers, there are two options when it comes to filing bankruptcy: Chapter 7 and Chapter 13. It is important to know...
Some people in Mississippi who are struggling with debt might want to consider filing for Chapter 13 bankruptcy. This can allow a person to keep some of his or her assets. In a Chapter 13 bankruptcy, an individual works with the court to create a payment plan for...
Mississippi residents who are having trouble paying off debts might look to the bankruptcy system for relief. For most individual filers, there are two options, Chapter 7 and Chapter 13. There is a limit on how much debt a filer can have if they want to file...
People in Mississippi who have fallen behind on their mortgage payments face the possibility of foreclosure. While some lenders are open to loan modifications or short sales to satisfy the debt, many are not. Many lenders will begin foreclosure proceedings, which can...
Overall, the nation's economy is in relatively good shape. This means that unemployment rates are down throughout much of Mississippi and the rest of the United States. However, there is a somewhat new phenomenon that is showing a darker financial picture for some...
A Mississippi debtor who successfully files for Chapter 13 bankruptcy will go on a payment plan that lasts for three or five years. Payments are made to a trustee, and the trustee then distributes the payments to creditors. How much that has to be paid is based on the...
