Chapter 13 Bankruptcy

In the U.S., consumers who are finding it difficult to keep up with their debt may choose to file for bankruptcy.  What some people do not know, however, is that when consumers pursue bankruptcy, they will have to choose between Chapter 7 and Chapter 13.

Sometimes, the Bankruptcy Court will make decisions for people after they take the means test. By law, people who exceed their state’s average median income are ineligible for Chapter 7 and will have to pursue Chapter 13 Bankruptcy.  However, unlike Chapter 7, those who file for Chapter 13 have the opportunity to create feasible payment plans and repay their debt over the course of 3 to 5 years, while keeping assets such as homes, vehicles, and other valuable property.

If you’re considering Chapter 13, you should know that there are many benefits to making this responsible choice.  For example, you may be able to stop foreclosure on your home or prevent your vehicle from being repossessed because you are willing to repay your debt.

At our firm, we assist people who decide to move forward with Chapter 13.  Our lawyers know that this is a tough decision to make, but ultimately, it is a choice that can lead to long-term financial improvement.  Our bankruptcy attorneys can:

  • Help you file your bankruptcy petition and related legal paperwork
  • Represent you at your 341 creditors meeting
  • Resolve disputes with your creditors
  • Create a payment plan that is within your economic means
  • Provide you with support as you get your finances back on track

To learn more about our Chapter 13 bankruptcy services, contact our firm today.

 

  

Associations & Memberships:

  • South Carolina Bankruptcy Law Association
  • National Association of Consumer Bankruptcy Attorneys
  • Better Business Bureau