Chapter 13

For many people who do not qualify for Chapter 7, Chapter 13 is the best option for dealing with overwhelming debt. Chapter 13 bankruptcy provides consumers with an opportunity to restructure their debts and begin to regain their financial freedom.

While many consumers use Chapter 13 bankruptcy to avoid home foreclosure, it can be used to help alleviate other issues like:

• Credit card debts
• Medical bills
• Utility bills
• Car loans
• Property loans
• Tax debt
• Judgments

How Does Chapter 13 Bankruptcy Work?

Unlike Chapter 7 bankruptcy, which focuses on debt discharge, Chapter 13 bankruptcy consists of a repayment plan that allows you to pay back a percentage of your debts. After the repayment plan is completed, a portion of your remaining debts will be discharged, giving you the fresh financial start you need.

One of the most powerful features of a Chapter 13 bankruptcy is the ability to stop a Sheriff sale and/or foreclosure of a home, or to assist people with getting caught up on their mortgage payments when they fall behind. This works by allowing the home owner to pay the arrearage (past due payments) over the course of the bankruptcy plan while they are allowed to stay in their home.

Within 30 days of filing for Chapter 13, you will be required to begin making payments. I will work closely with you to negotiate a repayment plan that meets your needs.