Chapter 13 — Adjusting and Reorganizing Your Debt
Chapter 13 is a reorganization of your current debt, which means Chapter 13 debtors have a payment plan ranging from 3-5 years. Upon confirmation of a reorganization plan, the debtor has a new agreement with the creditors. Plans generally eliminate high interest rates and penalties on credit card debt, may reduce the payments on secured loans and allow debtors to cure arrears on home mortgages. After successful completion of the payment plan, any remaining unsecured debt is discharged.
At the Law Offices of John B. McBride, I can address your bankruptcy questions or concerns, and assist you with filing bankruptcy. Call 914-862-4400 or 888-255-7088 or contact me online. As a former attorney for the IRS, I know what your are up against and have the experience to help you.
Is a Chapter 13 Bankruptcy Right for You?
There are many reasons people choose to file a Chapter 13 bankruptcy, including:
- You want to save your home and/or car, but are behind on payments
- You have enough income to make monthly payments
- You do not qualify for Chapter 7
- You possess non-exempt assets, such as significant equity in a home or car that you need to keep
In some cases, a Chapter 13 plan can reduce your monthly payments on secured loans and still manage to pay off all or a significant portion of your unsecured loans.
If you fall into any of these categories, I implore you to contact me online or call 914-862-4400 or 888-255-7088 to schedule an appointment at my office in Croton On Hudson, New York. You'll speak directly with a knowledgeable bankruptcy lawyer who can help determine if a Chapter 13 bankruptcy is right for you.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.