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Chapter 13 Bankruptcy– Adjustment of Debts

Individuals with regular income may be better off under Chapter 13 because they can keep valuable assets, such as a house or car and pay creditors less than the original debt over 3-5 years. Chapter 13 allows people to discharge more debts than Chapter 7 and also is used to stop foreclosure, allowing you to “catch up” on back payments over the term of the bankruptcy. Chapter 13 is a type of bankruptcy that allows you to build a repayment plan that works within your means. It is referred to as debt consolidation or reorganization. Your debt will be reduced and repackaged in a manner that will allow you to be rid of it completely within a reasonable amount of time. Under Chapter 13, you will be able to present a repayment plan to the court and make reasonable payments during the life of the plan. You will pay less monthly from your monthly budget towards your debts and get protection from your creditors while you get back on track.

Filing Chapter 13 bankruptcy can help to stop foreclosure; it can fend off repossession of your car or other property; and it can make the creditor harassment stop. You will get to keep your assets. You will be able to pay off your creditors. You will be able to take care of your debt.

Our attorneys understand that debt can easily become overwhelming. Perhaps you were faced with unforeseen job loss, divorce, a problem with an ARM or mortgage arrears. No matter what caused you to get into this situation, our team will work to get you out so you can move on to a financially secure future.

After Bankruptcy

Our lawyers take pride in the fact that we care about the people we work with. When you come to us, you will not just get help filing Chapter 13 bankruptcy. We want to help with all aspects of your situation so you can put your life back together.

This means that we will take great care in looking at tax issues that may be related to filing bankruptcy. It means that we will offer you tips to help you restore your credit and we have resources to help you develop a budget that you can live with on a long-term basis. You can count on us to stand by your side until your life is back in order.

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Call us today at 888-89-GATOR or send us an email using the form below and we will respond to you within 24 hours.

Law Offices of Timothy R. Ash, PC
30300 Northwestern Highway
Suite 300
Farmington Hills, MI 48334
P: 248-540-9667
F: 248-932-3521
C: 248-921-8935 (24/7)

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