Chapter 13 Bankruptcy

Phoenix, Arizona Chapter 13 Bankruptcy Lawyer

Even if you do not qualify for a Chapter 7 bankruptcy under the new bankruptcy laws, you still have an option in the form of a Chapter 13 bankruptcy. At Bankruptcy Helpers, Inc. in Phoenix, Arizona, we help our clients alleviate the stress of their financial situations.

Chapter 13 bankruptcy is a payment plan to your creditors that is calculated based on your income versus your expenses. Essentially, a trustee gets the money left over every month following your reasonable expenses. However, not everyone will be paid back the full amount that you owe them. With a Chapter 13 bankruptcy, we can exercise a certain level of flexibility within the law to minimize the amount of money you have to pay to a trustee. For example, you can exclude your mortgage from your Chapter 13 filing, which makes it a legitimate expense.

The payment plan you have with your trustee will last for 60 months and will end at that time no matter how much the creditors received. Likely, they will not get back what they are owed in its entirety.

When you come to Bankruptcy Helpers, Inc., we will sit down and discuss a possible Chapter 13 bankruptcy. Many clients come to us in a panic over both their financial situation and the misconceptions related to the laws passed in October of 2005. Our goal is to communicate with you in a factual and non-judgmental way. We will take you step-by-step throughout the entire Chapter 13 filing process. Our fees are reasonable and flexible, but we will expect the entire amount prior to filing.

Not all people who file bankruptcy are those who are irresponsible with their bills. Many come to our law firm after the loss of a job or a major medical expense. For more information or to schedule an appointment with an experienced bankruptcy attorney, please contact us.

To learn more about bankruptcy, please visit our Bankruptcy FAQs.