Using Chapter 13 Bankruptcy To Get A New Lease On Life
Many Americans have relied on Chapter 13 bankruptcy to reorganize their finances. In Chapter 13, or “reorganization” bankruptcy, you repay your creditors some or all of what they are owed over a three- to five-year time frame. Chapter 13 bankruptcy is especially helpful for homeowners who are behind on their mortgage, but want to save their home by using the repayment plan to catch up on past mortgage payments.
Chapter 13 is far more complex than Chapter 7 bankruptcy. For these and other reasons, it is crucial to work with a skilled, knowledgeable bankruptcy attorney. My name is Kevin Chisholm. I have helped people from all walks of life save their homes, deal with tax problems, and get debt relief. When you work with me, know that you will only work with me. You will receive the full benefit of my experience.
Providing Thoughtful, Intelligent Legal Representation
There are many factors that go into filing Chapter 13 bankruptcy. Because Chapter 13 involves repaying your debts over a period of time, it is key that your lawyer helps you create a repayment plan that is reasonable based on your income level. Your lawyer needs to look carefully at your income, the nature of your debts and many other factors.
Depending on your situation, Chapter 13 can offer significant savings. For instance, if you have two mortgages on your home, but your home is worth less than the value of the first mortgage, I may be able to get rid of your second mortgage. In certain cases, Chapter 13 may help you reduce the amount of your automobile payment. Other times, Chapter 13 bankruptcy can be an option to make tax debts more manageable. In every case, I think strategically and I think analytically. My goal is to create a repayment plan that maximizes your debt relief.
Contact Chisholm Law Office To See If Chapter 13 Is Right For You
Once I file your Chapter 13 petition with the bankruptcy court, your creditors are required to stop taking action against you. This means that foreclosures, repossessions, garnishments, lawsuits and collection notices all stop. If you are facing foreclosure, the time to act is now.