| Wait until the new laws take affect on 10/17, Ch 13 will be even MORE restrictive and the plans are more likely to be FIVE years rather than 3, with fewer protections and a few less things dischargeable.
What's worse.. bankruptcy where you're protected from harrassment, lawsuits, and even plain old bills from your creditors.. or 10-20 years with judgments on your credit reports, wage garnishments, bank seizures and liens on your property ?? You think Ch 13 is indentured servitude.. are you willing to drop out of sight and live like the Unabomber to avoid judgment creditors for 20 years ?
Ch 13's are NOT meant to be a financial vacation, they are meant for you to be able to pay at least some portion of your bills w/o being sued and pursued for payment. Ch 13's are not easy, 70% fail, but for some its their only choice..and soon it will be NO choice if you want BK protection and can't qualify for Ch 7.
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"Knowledge is Power - use it as you see fit !
I am not a lawyer or a member of the legal profession. My advice is based on research and experience, my own and others, some who practice law. You decide for yourself what actions you do or do not take from my advice.
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08-19-2005, 07:59 AM
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