Reigning In Debt Problems With Chapter 13 Bankruptcy

If you are struggling with debt problems, but are earning a steady income and have assets you want to keep, you may want to consider filing for Chapter 13 bankruptcy.

At George & Davis, P.C., we can help you determine if Chapter 13 is right for you. If not, we can help you explore other options, such as Chapter 7 bankruptcy. If you decide to file for Chapter 13, we can provide you with experienced guidance throughout the process.

Our law offices are located in Sturbridge, Massachusetts.

Chapter 13 Basics

In Chapter 13 bankruptcy, debts are consolidated into a debt repayment plan that lasts between three and five years. Certain debts may be discharged, depending on the nature of the debt and your ability to pay.

Chapter 13 is not for everyone. Because you pay your debts over time, you must demonstrate to the court that you have the income to keep up with your payment obligations.

In a Chapter 13 bankruptcy, certain debts are given priority over others. Secured loans such as car loans and mortgage payments typically must be paid in full, in addition to any arrearages. Unsecured loans such as credit card and medical debt may be discharged, depending on your means. Generally, you must pay as much of these debts as you can afford.

Like Chapter 7 bankruptcy, Chapter 13 stops creditors from harassing you and from taking legal action against you. An experienced attorney can help you take full advantage of the protections offered by Chapter 13 bankruptcy.

Keep Your Home In A Chapter 13

One advantage Chapter 13 offers homeowners is the ability to pay off mortgage arrearages without losing their house. In a Chapter 13, you can get up to date on your mortgage payments while stopping home foreclosure.

Contact Us For Debt Relief Representation

Our lawyers can guide you through the Chapter 13 process. Call our office at 774-452-9955 or contact us online to arrange your free initial consultation with an experienced bankruptcy attorney.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.