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Chapter 13 Bankruptcy Lawyer - Chapter 13 Bankruptcy Attorney
Even in Chapter 13 Bankruptcy you do not have to repay your unsecured debts. You only have to repay what you can afford. This may not be any more than you would repay in a Chapter 7 Bankruptcy. 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. Your bankruptcy attorney will help you alleviate the stress of the 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 36 - 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. You only have to repay what you can afford.
Your local bankruptcy attorney will sit down with you right in your neighborhood and discuss a possible Chapter 13 bankruptcy. Many clients utilize the FREE CONSULTATION to calm the 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 and our customer service is second to none.
Not all people who file bankruptcy are those who are irresponsible with their bills. Many consult with their bankruptcy lawyer 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. Depending on your situation, you will likely be able to qualify for a Chapter 7 Bankruptcy.
