Learn About Advantages Of Chapter 13 Bankruptcy
If you are overwhelmed by unmanageable debt and have significant home equity and/or other large assets that you hope to keep, a Chapter 13 bankruptcy may be your path to customized debt relief. If you are behind on your mortgage, Chapter 13 can help stop foreclosure. Other advantages of Chapter 13 bankruptcy include the following:
- Filing for bankruptcy will get on the path to debt relief with the opportunity to rebuild your credit.
- Your attorney fees will be incorporated into an affordable monthly debt repayment plan. You will not need to come up with fees for your lawyer all at once at the beginning.
- Once you file bankruptcy, all debt collection by most creditors must stop. You will be able to focus on repaying your reorganized debt without harassment from debt collectors.
- You will have time to repay mortgage arrears, car loan payments that you could not keep up with, back taxes, and more.
- You will likely be able to keep property such as your house and car while repaying debts over three to five years, most likely with much less pressure than you had before filing.
- You can file for Chapter 13 bankruptcy repeatedly if necessary.
It is important to work with an experienced lawyer if you hope for your case to be successful. Our attorney has nearly 40 years of experience in helping clients complete Chapter 13 debt reorganization plans and obtaining a discharge of many debts. At Mark W. Lischwe, P.C., we represent clients throughout the Phoenix area, helping them find the debt relief they need to get back on track financially.
Understand How Chapter 13 Works
At our consultation, we will discuss the bankruptcy process and what you are hoping to accomplish. Everyone inquiring about bankruptcy is seeking debt relief. Many people worry that if they do not qualify for Chapter 7 bankruptcy, they will not be able to regain control of their finances. This is not necessarily true. Most people can file for a Chapter 13 bankruptcy if they believe it is advantageous for them.
When you take advantage of the opportunity to file for Chapter 13 bankruptcy, your debts will be reorganized, and you will be responsible for making affordable monthly payments for three to five years. The repayment plan will be created specifically for you. The monthly amount will be calculated based on your available disposable income.
Get Started On The Path To Debt Relief
Whether you are behind on your mortgage, owe more on your car than what it is worth, or are struggling to pay back taxes and credit card debt, there is help. Attorney Mark W. Lischwe will work with you to give you the assistance you need to regain control of your finances. A large advantage of Chapter 13 bankruptcy is that your legal fees will be built into your affordable monthly payment.
If you are struggling with crushing debts in Arizona, do not let worries about fees stop you from inquiring about Chapter 13 bankruptcy. Schedule your free initial consultation by getting in touch with our law firm online or by calling 602-252-7552.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.