Chapter 13

When you need a Chapter 13 bankruptcy lawyer talk to attorney David Kingsbury.  In over 28 years of practicing bankruptcy he has filed more than 8,000 bankruptcy cases.  Many of those have been chapter 13 cases.

Most people want to file a chapter 7 case to “wipe it all out”.  For us too…that’s the default answer.  If we can do a Chapter 7 bankruptcy for someone then that is generally what we advise.  However, that type of bankruptcy isn’t available or even advisable for everyone even if they qualify for it.  There may be good reason to choose a Chapter 13 case instead.  In chapter 13 your debt is reorganized and most people in chapter 13 pay only a small portion of their debt with no interest.

Chapter 13 is helpful in the following situations.  If one or more of these factors is present to any degree then it’s a signal to me that at least considering a Chapter 13 case is the right thing to do.

Consider these issues;

  • You don’t qualify for a Chapter 7 because your income is too high.
  •  A decline or loss of income was only temporary, leaving you far behind on your debt payments and you just need some time to get caught back up.
  • You may have debts that can’t be discharged in a Chapter 7 case.  Examples are things like debts you were ordered to pay in a divorce, recent taxes, child support or spousal maintenance, etc.
  • You do not want to lose some of your assets in the odd chapter 7 case where they may not be protected.
  • You are behind on your mortgage or car payments and need a chance to catch up to stop a foreclosure or repossession.
  • Your house is worth less than the balance of your first mortgage and you have a second mortgage that we can strip off in a chapter 13 case.
  • You have filed for a Chapter 7 case within the last 8 years and are not eligible to file again in the near future.
  • You sincerely wish to pay off your debt, but simply need help doing so.  Some people just want to file a Chapter 13 as opposed to a Chapter 7.

A Chapter 13 bankruptcy filing gives you much the same relief from your creditors as a Chapter 7 case.  It stops creditor harassment, lawsuits, wage garnishments, bank levies, foreclosures and repossessions.  Once the plan is completed you receive a discharge much the same as in a Chapter 7 case.  Any unsecured debts remaining unpaid at the end of the term of your plan are discharged (wiped out) with limited exception (i.e. student loans).

We can help you determine if a Chapter 13 bankruptcy filing is right for you.  We can make the assessment, draft the bankruptcy petition and craft a Chapter 13 plan that will pass muster with the court and take care of the debt for as low a monthly payment to the chapter 13 trustee as possible.  You will make a single monthly payment to the court-appointed trustee for anywhere between 36 and 60 months.  The amount of the payment to the trustee and length of plan will be determined according to your income and basic costs such as mortgage, utilities and food.  Mr. Kingsbury will perform a thorough analysis of your situation to determine how to get you into the shortest and as low a paying Chapter 13 plan as possible.

For experienced help from a Chapter 13 lawyer, come talk to us at the Law Offices of David Kingsbury.  We’ll educate you on the process and give you all your options so you can make an intelligent decision about what works best for you.

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