If you struggle with an overwhelming amount of debt and are unable to make your monthly payments, the stress can be debilitating. You may feel tempted to simply avoid the problem and pretend it does not exist. Many people with high debt decide to ignore the issue and ignore collection agency calls.
People who are going through a divorce might be shocked to know that these things take time to adjudicate. One reason is that you have to negotiate with your ex over terms of property division and child custody or you have to go to court. We know that some people who are divorcing might be ready to get things finished quickly. For these individuals, mediation or collaborative divorce are likely the best options.
Filing for Chapter 13 bankruptcy means that you are going to have to make regular payments to a bankruptcy trustee who will divide those between your creditors. The payments will last three to five years. For the duration of the case, you will have to live off only the remaining income you have because you can't take on new credit while you are in the midst of a bankruptcy.