A dismissal seems like the only option when your chapter 13 payments too high. But keep in mind that there are always options to deal with the debt relief. You will have to ask for help and you have to pull some strings but it would be worth it. Filing for bankruptcy may not be something you like but if you can do it elegantly, then why not?
Chapter 13 Payments too High: Understanding the Situation
Keep in mind that no one wants to deal with failure, especially in business. No wants to deal with bankruptcy and have to admit it in the court of law. That’s why there is chapter 13 that manages how to deal with your payment (OSH Credit Card: Facts about the Service. Read more ... ») and how you can solve your debt issue. However, in the event that you think the chapter 13 payments too high, then there are several options. You don’t always have to admit for debt dismissal if you can work it out.
Most of the Possible Solutions
First of all, you need to need the current detail of your today’s situation. In most cases, most debtors miss out a payment (or several payments) because they are caught up in a temporary financial (Denver Police Auto Auction: All the Positive Vibes. Read more ... ») situation or emergency. Once it is solved, they should be able to continue with the payment. If this happens to you, you need to explain the condition to the court and request for more time. In most cases, they will actually grant your wishes if you can explain the condition – and it is logical.
Second, you can modify your payment in the event that you find chapter 13 payments too high and if your financial problem seems to persist. Of course, you are always allowed to modify the payment plan, provided that you can provide the proof and documentation showing your actual condition.
The third option is the hardship discharge where you are allowed not to continue your payment because it is considered as the best option for both parties involved, including when you find that chapter 13 payments too high.