Chapter 13 Bankruptcy
Debt Relief Through Chapter 13 Debt Reorganization
Many people believe that if they file for a Chapter 13 bankruptcy rather than a Chapter 7, that they will have to pay every debt that they owe. Most pay only a small percentage back on their unsecured claims. Usually, just pennies on the dollar. Also, the interest, late fees and penalties STOP once the Chapter 13 is filed. This is just one of the misconceptions people have when they visit with one of our experienced lawyers-a father and son team-in a free initial consultation to learn about their debt relief options.
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So Just What Is a Chapter 13?
Chapter 13 bankruptcy is essentially a debt-repayment plan that allows you to repay your debt through a court-ordered reorganization plan, based on your submitted financial documents. It is not a way to break your back or punish you. It is a way to hold the creditors at bay so that you can get back on your financial feet.
All of your debts are lumped together into this plan, so that instead of paying many different creditors, you are paying one monthly lump sum to the bankruptcy trustee, who will distribute the payment to your creditors.
When Stamps & Stamps, Attorneys at Law, files for a Chapter 13 bankruptcy on your behalf, there is an immediate automatic stay placed on all efforts to collect on debts:
- No more creditor harassment
- All foreclosure actions stopped
- Auto repossession efforts cease
- Wage garnishment must end
- All interest on credit card debts must cease
Chapter 13 for Higher Income Earners
Do not be disheartened if you do not qualify for a Chapter 7 . Like a Chapter 7, a Chapter 13 bankruptcy offers you a path to a brighter financial future; it is just a little more involved than a Chapter 7. Often called “the wage earners’ bankruptcy,” a Chapter 13 debt reorganization plan can last anywhere from 36 to 60 months in Ohio. After this time period is over, any remaining debt will be discharged.
See the differences between a Chapter 7 and a Chapter 13 and learn whether debt consolidation is a reasonable option.
Wipe Out Your Second Mortgage Debt
If you have a second mortgage, you may be eligible to have this second mortgage completely wiped out. We can help you understand if this is a possibility for you.
ATTORNEY FEES: Unlike many firms, we allow our clients to choose the amount of the attorney fee that is paid prior to filing the case with the balance being paid during the plan.
Call Today for Your Free Consultation with a Beavercreek Bankruptcy Lawyer
Call an experienced debt-relief law firm at (937) 247-6447 or 888-435-0085 or contact us online to learn how we can assist you. We offer evening and weekend appointments with two conveniently located offices off Interstate 75, with the main office just off of I-70 and I-75 at the corner of Little York and Dixie, and our south office is just off 675 and I-75 across from the Dayton Mall.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
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- Chapter 13 Bankruptcy
- Chapter 13 vs. Debt Consolidation
- Chapter 7 & Chapter 13 Differences
- Chapter 7 Bankruptcy
- Discharging Lawsuits & Judgments
- Filing Bankruptcy A Second Time
- Preventing Utility Shut-Off
- Preventing Wage Garnishment
- Stopping Creditor Harassment
- Stopping Home Foreclosures
- The Bankruptcy Process
- Your Credit Rating After Bankruptcy
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