Travis has overextended himself with his mortgage payments, credit card debt and car payments that his current salary can no longer support. He has a steady income but it is no longer enough. Which type of bankruptcy would you suggest that would that would allow him to catch up?

Question

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Chapter 13 bankruptcy is designed for individuals with a regular income who wish to pay their debts but are currently unable to do so. It allows them to reorganize their financial obligations and create a plan to repay all or part of their debts over time, typically three to five years, without liquidating assets. This would be suitable for Travis to catch up on his payments.

Travis Has Overextended Himself with His Mortgage Payments, Credit Card