Chapter 13

The United States Congress recognized that there are many people who have been blindsided by unforeseen circumstances such as job losses, health care costs, divorce, and a global economy in distress, and they simply cannot pay their creditors in the time provided.

Filing Chapter 13 Bankruptcy, allows you to immediately STOP foreclosure on your home, STOP repossession of your cars, STOP garnishment of your wages, and consolidate your debts into one manageable monthly payment. Upon filing of a Chapter 13 Bankruptcy an automatic stay will apply and all actions of your creditors must STOP including foreclosures, repossessions, lawsuits and other actions. In most cases, filing a Chapter 13 Bankruptcy will allow you to consolidate the debts listed below (thereby reducing your total monthly debt expenses) into one monthly payment to the Chapter 13 trustee in what is called a "Chapter 13 Plan":

  • Your Mortgage Arrears or Home Equity Arrears;
  • Your automobile payments may be lowered and you may get title once value has been paid for your cars in the Plan;
  • Past due property taxes;
  • Past due home owner association (HOA) dues;
  • IRS debt owed (may be wiped away depending how old it is)
  • Credit card debt;
  • Department store debt;
  • Pay day loan, lines of credit, etc.;
  • Medical Bills;
  • Debt obligations ordered by a Marital Agreement subject to a Divorce
  • Child Support arrears;
  • Student loans (will stop a wage garnishment and pay all or some of the student loan debt during the length of the Plan but any student loan debt not paid through the Plan will survive the bankruptcy, with accumulated interest); AND
  • Most other types of debts

Chapter 13 Plan are generally 3 to 5 years. Your debts are categorized and restructure in a plan. Some of your secured debts can still be paid directly by you. However, most of your debt will be consolidated into one affordable court ordered payment. You will pay this one payment monthly to a Court appointed chapter 13 trustee. This trustee will administer moneys paid to him to your creditors. Most people think that they have to pay all of their debts. Not true. Most people are required to pay very little back. Most of your debts get wipe out or discharged.

Don't waste time with Debt Negotiation, Debt Settlement, and Credit Consolidation agencies--there is no real relief. Chapter 13 Bankruptcy will give far more and immediate relief.

We sit down personally with you and prepare an affordable reorganization plan that will work for you.

The Chapter 13 bankruptcy attorneys at the Brooks & Carpenter law firm are some of the most experienced attorneys you will find. We meet directly with all of our clients and we prepare, file, and personally represent you in all proceedings from beginning to the end. We provide real relief!! Call now to schedule an appointment for a Free Consultation at Brooks & Carpenter.