How Can Chapter 13 Bankruptcy Help Me?

How Can Chapter 13 Bankruptcy Help Me?

Many people fall behind on their mortgages and end up with their homes in foreclosure. For these people Chapter 13 may be the only option that allows them to keep their homes. Chapter 13 plans allow many homeowners to make monthly payments to get caught up on their mortgages and save their homes. The plans typically last from 3 to 5 years. The Federal Judiciary recommends that you consult  an attorney to determine the proper treatment of secured debts in your Chapter 13 plan.  

Other people simply have too much income or property to file a Chapter 7 without running into serious issues. Chapter 13 plans allow these people to make payments on a percentage of their debt. Once their plan is completed any of the dischargeable debts  that were incurred prior to filing will be wiped out.   

Our attorneys are experienced in providing clients professional service and assistance in filing for a Chapter 13 bankruptcy. Like Chapter 7, filing for Chapter 13 has many benefits to help people struggling with debt.

Filing for Chapter 13  will automatically put a stop to almost all attempts by your creditors to collect on your debt.

Filing for Chapter 13 can potentially halt wage garnishments on salaries. Those who are having their salaries reduced can hope for some relief.

Filing for Chapter 13 can stop lawsuits. Filing for bankruptcy can effectively halt impending lawsuits from creditors.

Also, there are additional benefits of filing Chapter 13 that are not available in Chapter 7. Chapter 13 gives the filer a greater ability to potentially modify and in some cases eliminate entirely certain liens against their property. Furthermore, Chapter 13 can offer assistance with debts such as student loans and certain taxes, that otherwise may not be dischargeable under Chapter 7. Our attorneys can help you determine if Chapter 13 is right for you.

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