Chapter 13 Bankruptcy

Another option for those dealing with financial stress is to file under Chapter 13. This is the branch of bankruptcy code that allows for income earners to set up a repayment plan that spans from three to five years and allows them to keep most assets intact. Generally speaking, debts such as credit card debt are not paid in full, but a percentage, often a small amount. Of course, each case is different and I will guide you through ikt so you know exactly what your individual plan would be.

Advantages

  • Homeowners are often able to protect themselves against foreclosure proceeding
  • Some debts may be discharged that are exempt under Chapter 7
  • Options to reduce interest on certain types of debt

In bankruptcy, as in life, knowledge is power. This is a big decision, and your chosen course may determine your financial destiny for years to come. I should know; I’ve been through it personally.

Consider Chapter 13 if you are gainfully employed and have steady income. This is a chance for you to make a plan and pay down your debts without the constant contact from creditors. Depending on your situation, filing under Chapter 13 may be a much better fit than filing under Chapter 7.

The best way to assess your current situation and plan for the future is to consult a knowledgeable bankruptcy attorney. If you find yourself unable to handle your debt, I can offer you a free initial consultation where we will discuss your options in an open, friendly, judgment-free forum. I know that bad debt can happen to good people, and I’ve built my career around helping people get back on their feet.

There’s no real reason to continue with the anxiety, sleepless nights and ongoing collector harassment. Call my office today to learn how you can start over.