CHAPTER 13

Many people who are considering filing for bankruptcy make the mistake of believing there is only one type of bankruptcy filing. There are different types of bankruptcy filing, and which is best for you depends on your financial condition. We handle Chapter 13 repayment plans and help homeowners stop foreclosure.

If you need time to repay debt, we can help.
Chapter 13 bankruptcy is used most often to prevent mortgage foreclosures. If you are a homeowner and want to keep your house, but need to file bankruptcy, Chapter 13 is most likely what you will file. Filing a Chapter 13 bankruptcy permits you retain exempt assets and continue to make payments:

•    Pay past-due mortgage debts over time to prevent foreclosure
•    Keep valued assets such as your house, car, and boat
•    Pay other debts and loans over a 3-5 year period
•    Stop collection efforts
•    Prevent new debt collection actions from starting

This type of bankruptcy is commonly referred to as “wage earner” bankruptcy because it is intended for people who have a steady source of income, but need some help to bring their finances under control.