Home
Photos
Archives
Profiles
Essays
Luke Ford
Lending Tree
Can't Pay the Mortgage? Try Chapter 13 Bankruptcy
A Chapter 13 filing also does serious damage to the debtor's credit score. Notification of the filing remains on the credit report for up to 10 years, which makes for a slow financial recovery. Despite the drawbacks, debtors who need help catching up on past-due mortgage payments might find Chapter 13 the most attractive alternative. Just like the Choose Your Own Adventure stories, a debt problem presents limited options for resolution. You'll simply have to choose which one seems best for your situation. The sooner you do that, the sooner you can move on to the next chapter of your financial future.