people are abusing the bankruptcy law. If any of these proposals pass Congress and get signed by the president, it is likely to hurt regular middle-class people and the rights of consumers. Moreover, it is highly likely that some of these proposals will become law in the near future.Personal OpinionI think that you should consider filing a chapter 13 bankruptcy if your house is being foreclosed, or if you have received a notice from your mortgage company that they intend foreclosure at any time in the future. Maybe you just need some time to catch up, so that you can regain control of your life from your creditors. Maybe you are in serious financial trouble, and you have tried, but you cannot work out other arrangements with your creditors. Chapter 13 allows consumers to keep their property (real or personal) that they need to protect and are in danger of losing to a creditor. Sometimes people do not have enough income to pay 100 percent of the debts they owe and would like to make (in most cases) interest-free payments to unsecured creditors. If they really have an honest desire to not run away from their creditors, but are not in a financial position to pay all the debt, or all the debt and all the interest on that debt., then they need Chapter 13. It should not be taken away....
