Chapter 13 Bankruptcy Information
Understanding Chapter 13 bankruptcy and how it can help you reorganize your debts while keeping your property
Chapter 13 Bankruptcy Overview
Chapter 13 bankruptcy is a repayment plan that allows you to cure defaults and discharge certain debts while protected from collection actions
Key Benefits of Chapter 13
- Allows you to cure defaults on home mortgages and keep your property
- Helps you pay taxes and discharge debts not dischargeable in Chapter 7
- Provides protection from collection actions while you reorganize
- Chapter 13 is a powerful tool for debtors to regain control of their financial lives and get a meaningful fresh start
How Chapter 13 Works
As part of the bankruptcy process, Chapter 13 bankruptcy requires you to use your disposable income to repay some or all of your debts over a 3-5 year period. Your Chapter 13 plan will be individualized to your specific situation.
The guidance of a knowledgeable and experienced Chapter 13 bankruptcy attorney will prove invaluable to your success.
Chapter 13 Bankruptcy Is Typically Used In These Situations
Chapter 7 Ineligibility
You do not qualify to file a Chapter 7 bankruptcy
Non-Dischargeable Debts
You owe debts not dischargeable in Chapter 7
Behind on Payments
You are behind on car or house payments and want to prevent foreclosure and repossession
Significant Assets
You own a significant amount of property or earn a substantial amount of money
Stop Garnishments
You want to stop garnishments and taxation levy actions
Cost/Benefit Analysis
After a cost/benefit analysis, Chapter 13 may better serve your future goals
Important Legal Information
The laws governing bankruptcy filings were changed in 2005, and their implementation continues to change. If you are overwhelmed with debt, it is prudent to work with a knowledgeable Chapter 7 and Chapter 13 bankruptcy lawyer.
Expert Guidance
An experienced attorney can advise you of the proper chapter to file should assets be unprotected under a Chapter 7.
Surviving Debts
Certain debts survive a Chapter 7 bankruptcy because they are excepted from discharge by law: priority taxes, family support, student loans, and liens.
Trust Marie Guerrier Allen to Guide You Through the Process
Attorney Marie Guerrier Allen, JD, LLM, MBA has helped thousands of people navigate the complicated bankruptcy laws, rules, and procedures to find relief for their specific financial situation.
JD, LLM, MBA
Advanced legal education and business expertise to handle complex financial situations.
Thousands Helped
Extensive experience helping individuals and families achieve financial freedom since 1993.
Christian Values
Compassionate, non-judgmental approach focused on helping you achieve financial peace.