I filed chapter 13 bankruptcy recently. I did not have any idea about the bankruptcy laws. One of my friends told me about chapter 13 bankruptcy. He had the same problem as I did. Some years ago, I took a loan. I did not know that loan would create as many problems. That loan damaged my business hugely. I took the loan to expand my business. When the business got bigger, I had more rent, wage, utility to pay. The interest rate was very high, as well. I was in a big trouble with paying back the loan and having more financial responsibilities for my business. I had to find out an alternative. Chapter 13 bankruptcy was the alternative. That allowed me to pay back the loan without paying any interest.
I have been paying the monthly installments in time. If I had not filed chapter 13 bankruptcy, I would have been in a massive problem.
| January 27th, 2012 | Posted in Parenting |