Facing foreclosure or garnishment?  Filed for bankruptcy before?  You may be eligible for Chapter 13 Bankruptcy protection.  

See Sabrina for help!  Contact our office today at  260-449-9748 to schedule a free consultation.

Chapter 13 Bankruptcy

REORGANIZE/RESTRUCTURE YOUR DEBT

Tell me if this sounds familiar?  "I have some money to make payments each month, but I just don't have enough to pay everyone what they want."  or "The creditor won't accept my payment because it is not enough."  Many of our clients discover after paying their necessary bills that they do have some money left over each month that they could use to pay their credit cards and unsecured creditors.  The problem: there is just not enough money to pay everyone what they are demanding.  Example: Your creditors demand payments totaling $600 per month, but you only have $300 a month "extra" to pay them!  How will you be able to pay everyone?  

Chapter 13 bankruptcy is designed to help you reorganize your debt over a 3-5 year period.  Think of it as Bankruptcy's version of debt consolidation.  With a Chapter 13, you will make just one monthly payment to a Bankruptcy Trustee who then distributes the funds to all your creditors. Chapter 13 bankruptcy helps you use the "extra" money in your budget to help pay your creditors, while still protecting you from lawsuits, collections and garnishments.  You may even qualify to file for a Chapter 13 bankruptcy for the cost of the filing fee only.

Chapter 13 is especially helpful if you have filed a Chapter 7 within the past 8 years, are getting garnished, facing foreclosure, have secured debts such as a house or car that are behind in payments, or if you have property that would not be protected in a Chapter 7. 

Payments in a Chapter 13 are based on your total debt and ability to pay. Sometimes there are plans where you only pay pennies on the dollar for the debt owed.  You may also be able to lower the interest rate on your vehicles or pay just what the vehicle is worth instead what you owe.  Every Chapter 13 bankruptcy repayment plan is different because it is based on your own individual situation. Contact our office for a free consultation so we can review your individual situation and estimate a Chapter 13 repayment plan that is specific to you and your needs.