Debt Relief Through Chapter 13 Bankruptcy
Also referred to as a wage earner or debt reorganization plan, Chapter 13 bankruptcy can be a good debt relief option for people who have a steady income but who are having trouble keeping up with their monthly bills. An experienced bankruptcy lawyer can help you understand all of the pros and cons to the Chapter 13 option.
There are many things to consider in the process of determining the right course of action to obtain the debt relief you need. At the Fairfield, Ohio law office of R. Dean Snyder, Attorney at Law, I will walk you through the entire bankruptcy process and give you all the information you need to choose the debt relief solution that best fits your situation.
Understanding Chapter 13
Filing for Chapter 13 bankruptcy allows you to reorganize your debt and repay your creditors over a three to five year period according to a court approved repayment plan. It works a lot like a consolidation loan with the possibility of better rates and a lower principle. One of the main advantages of Chapter 13 over Chapter 7 is that you are not at risk of losing any of your property because you are repaying your debt.
Some of the advantages of filing for Chapter 13 may include:
- Stopping foreclosure and repaying mortgage arrears
- Canceling second mortgages and liens on your home
- Keeping your vehicle and stopping repossession actions
- Repaying back taxes and stopping tax collection activities
- Stopping harassing phone calls and letters
- Stopping wage garnishments
Schedule Your Free Consultation
Contact my office today to discuss your Chapter 13 bankruptcy questions. I am available during regular business hours and by appointment evenings and weekends. You can reach me by phone at 513-275-1724 or via e-mail.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
