Chapter 13 Bankruptcy Lawyers Northampton
Reorganize Your Debts - Hampshire, Franklin, Hampden and Berkshire Counties
Chapter 13 bankruptcy is available to all consumers with regular income. Typically, a Chapter 13 bankruptcy case is filed to prevent your home from being foreclosed. Chapter 13 bankruptcy does not eliminate all your debt and the process takes longer than Chapter 7 bankruptcy. However, Chapter 13 bankruptcy has many advantages and is especially useful for people in debt who do not qualify for Chapter 7 bankruptcy.
Under a Chapter 13 bankruptcy, you create a debt repayment plan for some of your debt that fits within your income limits. You file the repayment plan with the bankruptcy court along with your Chapter 13 bankruptcy petition, and a bankruptcy judge decides whether the repayment plan is reasonable.
If the judge accepts your repayment plan, then you make monthly payments to the Chapter 13 bankruptcy trustee, who distributes the money to your creditors. You follow the repayment plan for three to five years. At that time, your remaining qualifying debt will be eliminated.
Talk to our experienced debt relief lawyers to learn more about using Chapter 13 bankruptcy to reorganize your debt. Schedule a free in-person consultation with the Northampton bankruptcy attorneys at Ostrander Law Office.
Ostrander Law Office serves clients throughout central and western Massachusetts, including Hampshire, Franklin, Hampden, Berkshire and Worcester.
Chapter 13 Bankruptcy - Take Control of Your Debt
With Chapter 13 bankruptcy, you and the bankruptcy court decide what payment amounts are reasonable. Your debt payments are no longer in the hands of your creditors and you no longer have to follow their unreasonable demands.
Chapter 13 bankruptcy is an excellent option for people who have had temporary financial setbacks. The Chapter 13 debt repayment plan gives you the chance to regain financial stability while continuing to satisfy your creditors with regular payments — thus keeping your property.
Chapter 13 - Helps You Keep Your House
Chapter 13 bankruptcy is most advantageous for people who are in danger of losing their homes to foreclosure. A Chapter 13 bankruptcy debt repayment plan can give you breathing room to catch up on your mortgage payments by reducing your payments to other creditors for a period of time. It is important to understand that Chapter 13 bankruptcy will not eliminate your mortgage; it will, however, give you time to catch up on your mortgage payments.
Contact Ostrander Law Office — Free Consultation
Learn the facts about Chapter 13 bankruptcy. Remember, every person's situation is different. You deserve to learn specific information about how Chapter 13 bankruptcy may be able to help you out of financial crisis. Contact our Northampton bankruptcy attorneys for a free consultation.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.