. This video will teach you the best way to manage bankruptcy.
Martha answers questions regarding Chapter 13 bankruptcy on this show. When she talks about the process of filing bankruptcy and the process, you can feel the worry that she expresses in her voice. Their earnings are only around $50,000 , which is how much they owe in loans. They were basically earning no money and their entire earnings were sent to collectors. Chapter 13 bankruptcy can be described as a strategy that will pay off your debts over five years while protecting your assets.
Dave advises you to take a class in financial management to learn the basics of budgeting and understanding what your debts are coming from. The first step is to pay off any debts that aren’t included in the Chapter 13 bankruptcy. Dave suggests that she speak to a Chapter 13 trustee. Trustees can assist in understanding the many complexities associated with bankruptcy. The two main factors to get debt free are planning your budget and having an attitude of attacking. The bankruptcy must be eliminated as fast as you can. Even though it’s feasible, planning and determination is required.