bankruptcy Lawyers - Chapter 13
Definition:
Chapter 13 bankruptcy is also known as a "wage earner's plan."
Chapter 13 bankruptcy enables individuals
with income to create a plan to repay all or part of their debts. Under Chapter
13 bankruptcy the debtor proposes a repayment plan to make installments
to creditors over three to five years. If the debtor's monthly income is less
than the state median, the plan will be for three years unless the court approves
a longer period of time. However, if the debtor's current monthly income is
greater than the state median, the plan generally must be for five years.
Consequences of Filing Chapter 13 Bankruptcy:
Chapter 13 bankruptcy is intended to help individual take control of finances that have gotten out of control. A Chapter 13 bankruptcy lawyer can assist you in creating a successful plan to pay off debts. Chapter 13 bankruptcy can be a tool to get through difficult financial times without losing all your assets and credit rating.What a Lawyer can do for you:
A Chapter 13 bankruptcy lawyer can assist you in creating a successful plan to pay off debts. A well constructed Chapter 13 bankruptcy plan can protect as many assets are possible and damage your credit as little as possible. The best way to make intelligent and informed decisions is to have and experienced, knowledgeable bankruptcy firm representing your interest. Chapter 13 bankruptcy cases are a lengthier, more involved process than chapter 7 bankruptcy cases, so it pays to have a bankruptcy lawyer at your side who is equipped to resolve issues quickly and accurately.Lawyer Referral Service:
If you are worried about your financial status and feel Bankruptcy may be a solution, Attorney Search Network can refer you to the right Chapter 13 bankruptcy lawyer. Call us now and we will put you in communication with a chapter 13 bankruptcy attorney that can help with your bankruptcy case.
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