Showing posts with label Bankruptcy. Show all posts

Debt community - How Nicole, a School educator With $55k in reputation Card Debt, Avoided Bankruptcy

Attorney - Debt community - How Nicole, a School educator With k in reputation Card Debt, Avoided Bankruptcy

Hello everybody. Today, I learned all about Attorney - Debt community - How Nicole, a School educator With k in reputation Card Debt, Avoided Bankruptcy. Which may be very helpful to me therefore you. Debt community - How Nicole, a School educator With k in reputation Card Debt, Avoided Bankruptcy

Why are so many people turning to debt community these days?

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According to a National Debt Relief discover I conducted in 2006 with over 10,000 people who had requested help with their reputation card debt online after searching Google, most people carrying significant debt said they were concerned in debt community because they could ultimately get out of debt as fast as possible (and stay out), live debt free, save more money, invest for retirement, go on a nice "paid-in-cash" vacation, afford a college education for their children and many other reasons unique to their own situations...

What are your reasons?

Why is it foremost for you to be debt free?

Is "debt settlement" right for you?

Maybe, maybe not.

Let's take a closer look to discover if debt community is the best option for you...

I'm about to tell you a short story to illuminate how debt community can be the best option for inescapable people. It's foremost to discover for yourself if debt community is right for you, Before you talk to a pushy sales someone trying to enroll everyone and their mother, along with you, into debt community programs these days.

This story will help you see clearly if debt community can truly "save your day", as well as avoid the tasteless mistakes most people make.

Onward.

Nicole was a wife and mum of a 20-month-old baby girl, living in Virginia, making ,000 a year as a school instructor and renting her home.

Nicole had financial problems; carrying over ,000.00 in high interest reputation card debt. Her husband Steve had lost his job. The couple charged up the reputation cards to survive on Nicole's small salary alone while Steve looked for work. Before Steve began working again, they fell behind on the reputation card payments.

All the debt was in Nicole's name.

Of course, the reputation card fellowships were quick to jack up Nicole's interest rates to 20-30%, with most accounts at 29.99% interest (pure insanity). This also caused the monthly payments to jump up to an amount the couple could no longer afford, even when Steve began working again.

What did Nicole do?

Fortunately, she Avoided bankruptcy, and got on the affordable fast-track to leisure from serious amounts of splendid debt.

I'll share the details of "how" she did it below, but first let's look at a bit of tantalizing history...

You see, Nicole had previously enrolled in a reputation Counseling program, making monthly payments of ,425.00, which she couldn't afford.

The reputation consultant who enrolled her after going through her allocation of course said to Nicole, with a level face, "Can you live on negative- a month?"

What a joke!

But it wasn't funny...

Nicole dropped out of the program 2 months later, deeper in debt with even further damage to her credit.

Since dropping out of reputation Counseling (very common), Nicole had been saving up her money to pay an attorney ,800 to file episode 13 Bankruptcy, because she did not qualify for a episode 7 Bankruptcy under the new "creditor friendly" Bankruptcy Reform Act passed in October of 2005.

Can you imagine?

Remember, she only made k a year as a school teacher, rented her home and had fallen behind on k of high interest reputation card debt due to her husband's job loss... But she still didn't qualify for episode 7 Bankruptcy (where the debt is wiped out), only for episode 13 Bankruptcy (where she must repay a part of the debt).

Wait until you see the "portion" of the debt she would have had to pay back if she had filed bankruptcy, but first you've gotta hear this...

Nicole was scheduled to meet with her bankruptcy attorney on a Thursday evening, but by occasion she happened to see a inescapable "debt guru" on a Tv Talk Show earlier that same day discussing options for getting out of debt, along with debt settlement. On a whim, she called for a free debt relief guide.

After studying how reputation works and about all of her options to get out of debt, Nicole canceled her appointment with the attorney to file bankruptcy and instead she faxed in all of her current reputation card statements and budgeting worksheet to see if she distinguished for a debt community program.

Guess what happened?

Nicole found a great way!

I'll show you the details in a moment, but first let's look at what she avoided...

Nicole nearly filed episode 13 Bankruptcy (public record). She would have paid 0-,000 A Month for 60 months, on top of ,800 in fees for filing bankruptcy. That's a total cost of nearly k-k to eliminate her k of reputation card debt on a 5 Year, court-ordered repayment plan. (As quoted by her bankruptcy attorney)

Ouch!

Plus, the crippling influence of a bankruptcy would have remained on her reputation record for other 7 years After the date of her discharge... For a total of 12 years of major reputation damage.

Double-Ouch!!

Instead, Nicole learned how she could eliminate her ,000.00 of reputation card debt for a total cost of about ,280 in just 36 months with payments she could afford of only 5 a month.

You may want to Read that Again!

Nicole discovered she could avoid the shame and long-term damage of bankruptcy, save more money for her and her house than any other option ready (including bankruptcy or reputation counseling) and debt free in just 36 months (no longer be a slave to reputation card debt).

She no longer had to throw thousands of dollars a year down the toilet on interest charges.

Nicole eliminated the greatest stress she had been feeling when she didn't know what to do or how she would ever afford to get out from under an splendid amount of debt and out-of-control monthly minimum payments she plainly couldn't afford.

Best of all, "Seeing the light at the end of the tunnel" and waking up every day feeling relief from heavy debt stress helped Nicole and Steve have a great marriage, be great parents to their young daughter and focus on their wage and budgeting to get out of debt Asap, saving as much money as possible in the process.

These results are nothing extra and are typical of what can be done through debt settlement. In fact, many debt community clients are debt free even faster, averaging just 28 months. people with lump sums and high debt amounts commonly contact the best results.

If you're in financial hardship like Nicole was, then take a look at All of your options to get out of debt, along with debt settlement, but Beware of anyone contribution only one solution: Just like the bankruptcy attorney Nicole spoke with, or the reputation consultant who enrolled her in a program she couldn't afford, also watch out for anyone contribution only debt settlement.

Work with a expert who offers all options to get your out of debt, who will look out for your best interests instead of trying to sell you their solution.

I hope you will get new knowledge about Attorney. Where you may put to easy use in your life. And most importantly, your reaction is passed about Attorney.

episode 13 Bankruptcy - development Your Payments to the Bankruptcy Trustee

Auto Accident Attorney Fort Lauderdale - episode 13 Bankruptcy - development Your Payments to the Bankruptcy Trustee

Hi friends. Now, I discovered Auto Accident Attorney Fort Lauderdale - episode 13 Bankruptcy - development Your Payments to the Bankruptcy Trustee. Which is very helpful if you ask me and also you. episode 13 Bankruptcy - development Your Payments to the Bankruptcy Trustee

In a lesson 13 bankruptcy, you'll make payments to the bankruptcy Trustee. These are the payments that the Trustee divides up and forwards to your creditors and it keeps you from having to make detach payments on any debts that are included in your lesson 13 Plan (although you do separately pay anyone debts are not included in your Plan). The number of each payment is set out in your lesson 13 Plan.

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Chapter 13 is complicated, so there are a ton of things that are bound to go wrong. Lots of them are nobody's fault, stuff just happens. The good news is that your bankruptcy lawyer can fix most of them, and negotiate away some of the others for you.

Your bankruptcy case, however, is a cooperative process. Your bankruptcy lawyer does some parts, and you do other parts. One of the things that your bankruptcy attorney cannot do is make sure your lesson 13 payments are made on time.

That's your job.

Missing your lesson 13 payment causes more problems than anyone else, especially in cases that would otherwise be successful. Even though both your attorney and the bankruptcy Trustee spend extra exertion emphasizing how primary it is to keep your lesson 13 payments current, accidents are bound to happen.

Here's what you have to remember:

First, you are the one whose job it is to make sure the Trustee receives your payments. In Dallas, your payments should be made by payroll deduction or auto-debit. It is way simpler for you that way, but you must be proactive in development sure that the business you work for is sending the money in like they are supposed to be doing. If you get to the confirmation hearing and all of your payments have not yet been made, your case will get dismissed. There are times when the Trustee's internal records show a delinquency, even though you think the funds were taken out of your paycheck. If you think that your boss is holding out the money but it has not been sent in yet, speak up. If you get your paycheck and consideration that your boss is not taking the money out, you have to go talk to the payroll person at your company.

Second, keep in mind that your Trustee payments start immediately but until the payroll deduction kicks in, you must physically send your payments directly to the Trustee. The first due date for a case in Dallas will be 30 days after the day we filed the bankruptcy case. This part is highly important: If you miss your first payment, your case will get dismissed. The first several months of the case are like a "trial period" or being "on probation" with the Trustee. That time duration is where you try to prove that you are responsible sufficient to be allowed to do a lesson 13, and where you and your lawyer together are proving to the bankruptcy Trustee that your lesson 13 Plan will literally work to get you back in good standing with your mortgage business and other creditors. Bankruptcy law requires that your Plan be "feasible" and the most important part of that measurement is when the Trustee takes a look at your payment history in order to see if you have demonstrated an quality to keep up with and make all your Plan payments as they are advent due. If you fall behind in your Trustee payments and don't catch them up immediately, you have doomed your own case.

Third, please ensure that any payment you submit has your full name and the court's case number written right on the front of it. Your lesson 13 Trustee has many thousands of files to oversee and you don't want your payment delayed because it got lost in the shuffle and not matched up to your case. Most Trustees will not accept personal checks so send a cashier's check or money order and make sure that you save the receipt. Also make sure you send it to the right place. All of the Trustees in North Texas use a Memphis, Tn address (which is on the first paperwork that the Trustee sends). Since it's a Po Box, you can't send a payment via FedEx although you could use the Postal Service's Express Mail selection if you are in a hurry, or certified mail otherwise. Any way you send it, hold onto the proof of mailing.

Finally, you can and should take the time to monitor the payments received by the Trustee in your case. Verify with the Trustee's office that your payments have been received and properly credited. All of the Trustees that I work with (Dallas, Plano and Fort Worth, Texas) have this information online so that you can log in and see what's going on in your case. If you accidentally skip or miss a payment at some point, it's vitally important to get your payments caught up before the Trustee notices the delinquency and asks the bankruptcy judge to dismiss your case.

Getting a solid lesson 13 case going is hard on you, and a ton of work for your bankruptcy attorney. It's a shame when all that work goes to waste because of a missed Trustee payment. But with these guidelines, you should be able to minimize the risk of dismissal and maximize your occasion of a prosperous lesson 13 bankruptcy case.

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part 13 Bankruptcy - manufacture Your Payments to the Bankruptcy Trustee

Auto Accident Attorney Fort Lauderdale - part 13 Bankruptcy - manufacture Your Payments to the Bankruptcy Trustee

Good morning. Today, I discovered Auto Accident Attorney Fort Lauderdale - part 13 Bankruptcy - manufacture Your Payments to the Bankruptcy Trustee. Which may be very helpful if you ask me therefore you. part 13 Bankruptcy - manufacture Your Payments to the Bankruptcy Trustee

In a part 13 bankruptcy, you'll make payments to the bankruptcy Trustee. These are the payments that the Trustee divides up and forwards to your creditors and it keeps you from having to make cut off payments on any debts that are included in your part 13 Plan (although you do separately pay anything debts are not included in your Plan). The number of each cost is set out in your part 13 Plan.

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That's your job.

Missing your part 13 cost causes more problems than anything else, especially in cases that would otherwise be successful. Even though both your attorney and the bankruptcy Trustee spend extra effort emphasizing how indispensable it is to keep your part 13 payments current, accidents are bound to happen.

Here's what you have to remember:

First, you are the one whose job it is to make sure the Trustee receives your payments. In Dallas, your payments should be made by payroll deduction or auto-debit. It is way simpler for you that way, but you must be proactive in manufacture sure that the firm you work for is sending the money in like they are supposed to be doing. If you get to the confirmation hearing and all of your payments have not yet been made, your case will get dismissed. There are times when the Trustee's internal records show a delinquency, even though you think the funds were taken out of your paycheck. If you think that your owner is keeping out the money but it has not been sent in yet, speak up. If you get your paycheck and observation that your owner is not taking the money out, you have to go talk to the payroll someone at your company.

Second, keep in mind that your Trustee payments start immediately but until the payroll deduction kicks in, you must physically send your payments directly to the Trustee. The first due date for a case in Dallas will be 30 days after the day we filed the bankruptcy case. This part is extremely important: If you miss your first payment, your case will get dismissed. The first any months of the case are like a "trial period" or being "on probation" with the Trustee. That time period is where you try to prove that you are responsible adequate to be allowed to do a part 13, and where you and your lawyer together are proving to the bankruptcy Trustee that your part 13 Plan will legitimately work to get you back in good standing with your mortgage firm and other creditors. Bankruptcy law requires that your Plan be "feasible" and the most foremost part of that measurement is when the Trustee takes a look at your cost history in order to see if you have demonstrated an quality to keep up with and make all your Plan payments as they are arrival due. If you fall behind in your Trustee payments and don't catch them up immediately, you have doomed your own case.

Third, please ensure that any cost you submit has your full name and the court's case number written right on the front of it. Your part 13 Trustee has many thousands of files to oversee and you don't want your cost delayed because it got lost in the shuffle and not matched up to your case. Most Trustees will not accept personal checks so send a cashier's check or money order and make sure that you save the receipt. Also make sure you send it to the right place. All of the Trustees in North Texas use a Memphis, Tn address (which is on the preliminary paperwork that the Trustee sends). Since it's a Po Box, you can't send a cost via FedEx although you could use the Postal Service's Express Mail selection if you are in a hurry, or certified mail otherwise. Any way you send it, hold onto the proof of mailing.

Finally, you can and should take the time to monitor the payments received by the Trustee in your case. Verify with the Trustee's office that your payments have been received and properly credited. All of the Trustees that I work with (Dallas, Plano and Fort Worth, Texas) have this data online so that you can log in and see what's going on in your case. If you accidentally skip or miss a cost at some point, it's vitally foremost to get your payments caught up before the Trustee notices the delinquency and asks the bankruptcy judge to dismiss your case.

Getting a solid part 13 case going is hard on you, and a ton of work for your bankruptcy attorney. It's a shame when all that work goes to waste because of a missed Trustee payment. But with these guidelines, you should be able to minimize the risk of dismissal and maximize your opening of a thriving part 13 bankruptcy case.

I hope you obtain new knowledge about Auto Accident Attorney Fort Lauderdale. Where you possibly can put to used in your daily life. And above all, your reaction is passed about Auto Accident Attorney Fort Lauderdale. Read more.. part 13 Bankruptcy - manufacture Your Payments to the Bankruptcy Trustee.

What Debts Cannot Be Discharged In Bankruptcy?

Auto Accident Attorney San Diego - What Debts Cannot Be Discharged In Bankruptcy?
Good afternoon. Now, I learned all about Auto Accident Attorney San Diego - What Debts Cannot Be Discharged In Bankruptcy?. Which may be very helpful for me therefore you.

The good news is that most debts are normally dischargeable. A extraction eliminates the legal promulgation to pay the debt that was discharged and prohibits any and all range actions to attempt to acquire the discharged debt. The following is a partial list of the base types of debts that are not dischargeable. This description does not supply facts about the differences between a chapter 7 extraction or chapter 13 discharge. Determining which debts cannot be discharged can be complicated. Please seek counsel regarding your definite circumstances.
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Income Taxes
Taxes owed to the Internal wage aid and in California, the Franchise Tax Board, are commonly not discharged in bankruptcy unless the taxes meet the following requirements. The wage taxes could be discharged if they are three years old, filed on time, accessed 240 days prior to the case being filed, no fraud or willful evasion and returns were filed at least two years prior to the case being filed.
Student Loans
The 2005 Bankruptcy Abuse stoppage and consumer security Act eliminated the extraction of all incommunicable and government backed trainee loans. Any debt incurred for an educational advantage overpayment, promulgation to repay funds received as an educational advantage and debts for any other schooling loan that is a powerful schooling loan under the U.S. Bankruptcy Code. Under unavoidable circumstances trainee loans could be discharged by filing an adversary proceeding.
Domestic withhold Obligations
If you are behind on your child withhold or spousal withhold payments as ordered by the state court the missed payments are not dischargeable.
Debts Incurred to Pay Nondischargeable Taxes
As part of the 2005 Bankruptcy Abuse stoppage and consumer security Act any debt incurred to pay a nondischargeable tax debt is not discharged.
Damages Caused While Intoxicated
If you caused a car accident and you were intoxicated at the time, any damages or claims resulting from bodily injury of the victims are not dischargeable. Debts resulting from damage to asset caused while you are intoxicated could be discharged. Any debt for death or personal injury that you caused while intoxicated while operating a motor vehicle, vessel or aircraft are not dischargeable.
Any Money, Property, Services, credit or reparation of credit Obtained by Fraud
If you received money, property, services, credit, reparation of credit or refinancing of credit because you made a false pretense, false representation or actual fraud, the resulting debt of the fraud is not dischargeable.
Purchase of Luxury Items Within 90 Days of Filing Bankruptcy
If you owe 0 or more to a singular creditor for the buy of 0 or more of what is considered luxury goods or services within 90 days before the bankruptcy case was filed the debt is not dischargeable.
Certain Cash Advances
Cash advances that total more than 0 obtained within 70 days before the bankruptcy case was filed are not dischargeable.
Post-Petition Hoa Dues
If you own a home in an association and are behind on the monthly dues prior to the bankruptcy case being filed, all of the missed payments before the case is filed are dischargeable. Once the case is filed the dues that come due each month are not dischargeable. If you plan on surrendering your home and are not production the general mortgage payment you will still be responsible for the post-petition Hoa dues as long as the house is still in your name.
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comprehension episode 7 Bankruptcy

Attorney - comprehension episode 7 Bankruptcy
Hello everybody. Today, I found out about Attorney - comprehension episode 7 Bankruptcy. Which may be very helpful in my opinion therefore you.

If you are inspecting bankruptcy and have already done some explore into it, you are probably aware that there are multiple types of bankruptcy. Each type of bankruptcy has different requirements and puts you at a different type of risk as far as your assets, but part 7 bankruptcy can be advantageous for you. Well, at least as far as a form of bankruptcy that does as puny damage as possible, knowing that given a choice, you would not want to file bankruptcy at all.
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Chapter 7 bankrutpcy has its own twists and requirements which are different from other forms of bankruptcy. Sometimes it is freferred to as a liquidation bankruptcy. The someone filing for bankruptcy needs to sign over all of their liquid assets (those assets which can be sold to pay off the debt) to a someone who is appointed as the trustee.
The role of the trustee is to watch over the selling off of all the assets, which the proceeds from the sale is used to pay off the debtor's creditors. part 7 bankruptcy can be a very long process and can take 4-6 months before it is completed, although remember that other types of bankruptcies can take even longer than that, and will ultimately cost the debtor even more than part 7 bankruptcy.
Now I stated earlier that all assets are liquidated and sold off by the trustee, but this authentically depends on the bankruptcy laws in the state where you live, since those laws vary widely from state to state. In many state, the debtor is allowed to keep determined assets and possessions. However, in most cases (although not all), the debtor is required to sell of real estate and cars.
If you are inspecting bankruptcy, it is leading to talk with a good bankruptcy lawyer who is closely customary with the bankruptcy laws in your state, as well as the federal bankruptcy laws. He can help you determine if you authentically need to file bankruptcy, and if so, the type of bankruptcy that will be most beneficial for you. For example, if the majority of your debt is with prestige card companies, you should sense the prestige card clubs to see what can be worked out. Many times they will agree to terms that will allow you to Not file bankruptcy, because they know full well that if you succeed through with the bankruptcy, they are likely not to see more than pennies on the dollar for what you owe them.
Chapter 7 bankrutpcy can be your best option, but depending on your situation and the laws in your state, other type of bankruptcy might be a great option for you. Be sure to get an estimate done by a marvelous bankruptcy lawyer who knows the laws of your state and can propose you on your best policy of action.
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Cheap Ohio Bankruptcy Lawyers - 7 Tips to Find a Low Cost Attorney

Attorney - Cheap Ohio Bankruptcy Lawyers - 7 Tips to Find a Low Cost Attorney
Good morning. Yesterday, I found out about Attorney - Cheap Ohio Bankruptcy Lawyers - 7 Tips to Find a Low Cost Attorney. Which is very helpful for me and you.

Finding the right Ohio bankruptcy lawyer can mean the variation in the middle of a level process and a bumpy ride. It is inherent to file bankruptcy on your own, but bankruptcy lawyers are well-known with the paperwork, the laws and other technicalities that will help you get the best settlement possible.
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Tips for looking Cheap Bankruptcy Lawyers in Ohio
Start soon. Putting off looking a cheap lawyer in Ohio will only leave you scrambling in the end. A rush to a decision could leave you with an attorney that you are not comfortable with in the long run. Start your hunt early and you will have time to make a decision that will help guide you to the best results. Ask questions. Ask people that you know about any feel they may have had with local bankruptcy attorneys. Ask the lawyers that you have consultations with about their previous experience. Look in the internet about any complaints or compliments about the dissimilar attorneys that you are considering. Visit the local bankruptcy court in your area. You can see lawyers at work and get a feel for their feel and expertise. looking bankruptcies happen may also help you understand the process more completely. The northern district has courthouses in Cleveland, Akron, Canton, Toledo and Youngstown. The southern district has courthouses in Cincinnati, Columbus and Dayton. Talk to other professionals that you have worked with in the past. They may have recommendations for Ohio bankruptcy lawyers. Accountants and lawyers in other specialties could have the right hint for your needs. Use the Internet. Take some time to hunt the dissimilar law firm websites to see where they specialize. You can also use the internet to do a hunt on any lawyer or law offices that you might want to consider. Check with referral services. The Ohio State Legal Services association (Oslsa) can help match you with the bankruptcy lawyer that will work best for your single needs. They also furnish legal aid to Ohioans who have wage below 125% of the current lawful Federal Poverty Guideline. Meet with dissimilar lawyers. Most episode 7 or episode 13 lawyers will furnish you with a free first consultation. That one meeting could be all that you need to see if you would be able to work with that lawyer or if you need continue looking. Be sure to write out a list of questions to ask so that you get the same facts from all of the lawyers that you visit.The whole one thing that you need to work your way through the bankruptcy lawyers and choose the one for your circumstances is to start early. You will want time on your side as you work through the dissimilar sources that may offer you advice in choosing an Ohio bankruptcy lawyer.
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Bankruptcy: What's the unlikeness in the middle of chapter 7 and chapter 13?

Attorney - Bankruptcy: What's the unlikeness in the middle of chapter 7 and chapter 13?
Good morning. Today, I found out about Attorney - Bankruptcy: What's the unlikeness in the middle of chapter 7 and chapter 13?. Which could be very helpful in my experience so you.

When consumers inspect the selection of bankruptcy generally, the remedy they are specifically referring to is part 7 bankruptcy. The result of the filing is to removal man saddled with debt from having to pay debts no longer secured with a valid lien. It also has the added advantage of serving as a court order to creditors (or their collection agencies) to stop hassling you through telephone calls, letters, and personal perceive in an endeavor to get you to pay the debt. But what, in effect, does that mean for you the borrower?
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Chapter 7
Filing for part 7 bankruptcy does not mean that immediately all of your debts are eliminated in their entirety. Rather, secured debt must be still be dealt with. It does mean, however, that generally unsecured debts like prestige card bills and medical expenses do not have to be paid back. But getting off the hook here does not come without costs. Rather, filing part 7 often means the critical liquidation (selling off) of most of your personal property. While there are limitations to what can be confiscated by creditors, (such as your home under the homestead protection), expect that creditors will sell off most of your valued possessions to pay part of your debts to them. In addition, your prestige rating will be devastated by this filing. In filing part 7 bankruptcy, you have essentially proclaimed to the world that you are no longer worthy to be trusted with time to come credit. That plays out approximately insofar as it becomes virtually impossible to get a mortgage for a new home, a car loan, a prestige card, and even limits very small forms of prestige like appliance financing and at times payday loans. Because of the many drawbacks of filing for part 7 bankruptcy, many individuals in need of debt relief look for other options.
Chapter 13
One such selection is part 13 bankruptcy. part 13 filing means quite plainly that you are restructuring your debt by negotiating with your creditors and establishing a plan to pay them off over the procedure of three to five years. So, this is a formal proclamation that you will and have worked with creditors so that they will get their money, only at a slightly slower rate than they might have wanted. By promising to pay off your debts, you are allowed to keep critical personal asset such as your home and car. In a similar way, taking this step can limit some of the damage to your prestige score that is incurred with filing for part 7 as opposed to part 13. Typically the arrangement reached with creditors is to have you pay your regular monthly payments, plus an additional amount that over time allows you to get caught up on your payments over time.
There are both benefits and costs to whichever bankruptcy advent you conclude to take. On the one hand, filing part 7 offers you the leisure to be rid of the heavy debt that is currently hanging over you, while part 13 offers you only the occasion to restructure that debt to be more manageable. But on the other hand, filing part 7 also means the liquidation of approximately all your valuables as well as the total devastation to your prestige rating, whereas filing part 13 allows you to keep many of your possessions while retention your prestige score intact.
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