Chapter 13
BANKRUPTCY LAW
Busching Bankruptcy Group
Chapter 13
In a chapter 13 case you file a “plan” showing how you will pay off some of your past-due and current debts over three to five years. The most important thing about a chapter 13 case is that it will allow you to keep valuable property – especially your home and car – which might otherwise be lost.
This chapter of the Bankruptcy Code provides for adjustment of debts of an individual with regular income. Chapter 13 allows a debtor to keep property and pay debts over time, usually three to five years.
What is Chapter 13 bankruptcy: reorganization or debt consolidation?
• A Bankruptcy Which Allows You To Propose A PLAN of Repayment To Your Creditors
• Plan Can Last From 3 to 5 Years Depending On Your Monthly Income And How Much Time You Need To Make Required Plan Payments
• Allows You to KEEP PROPERTY That May Be In Jeopardy
• Forces The People You Owe Money To STOP ALL COLLECTION
• Forces All Creditors Into The Plan
• Consolidate Debts Such As Credit Cards, Medical Bills, Signature Loans, Lawsuits
• Include Mortgages, Car Loans, Taxes, Child Support, Pay Day Loans, Internet Loans
• Most People Don’t Have To Pay Back In Full – Budget Based
When should I file Chapter 13 bankruptcy?
• If You Are Facing The Loss of Your Home or Car And Need New Payment Terms
• If You Are Behind on Debt Payments And Can’t Seem To Catch Up
• If You Have Property Which Is In Jeopardy of Being Taken
• If You Can Afford To Repay But Not In Full
• If You Are Paying Too Much Interest
How can I stop foreclosure and have my mortgage modified?
• Filing A Chapter 13 Bankruptcy Will Stop The Foreclosure
• Chapter 13 Forces Your Mortgage Company Into The Bankruptcy Court
• Propose A Chapter 13 Plan Seeking To Modify The Terms of Your Mortgage
• Modified Terms May Include Payment Amount, Payment Term, Interest Rate, Arrears
• May Modify or Eliminate HELOC or Second Mortgage
• Past Due Mortgage Payments Part of Plan or Modification
• Shift Money From Credit Cards and Signature Loans to the Mortgage
Why Choose Busching Bankruptcy Group?
Virtual Consultations
It’s easier than ever to get the answers you need with our virtual consultations.
Free Consultations
Get started on your case with a free consultation today.
$0 Down Until You File
We can help you get started with no money down.
Get A Free Case Evaluation
We are here to help you with any bankruptcy questions
