One of the additional tools of chapter 13 over chapter 7 is the ability to restructure some short-term secured debts. If you have an auto loan, for example, that has a high interest rate, this can save hundreds if not thousands of dollars. The way it works is the auto loan is repaid in the chapter 13 plan. The interest rate paid through the plan is lowered to the Till rate plus a small percentage. This is a HUGE benefit in high interest rate cases. There are limitations as to when this option is viable, so contact us today to see how we can help you restructure your secured debt.