Chapter 13 Bankruptcy Attorneys

Our lawyers know Chapter 13 Bankruptcy & Debt Consolidation

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Chapter 13 Bankruptcy

Chapter 13 Debt Consolidation is a reorganization of debt that can help individuals keep their valuable assets while getting a handle on their debts. It provides a means for individuals who have regular income, but are unable to repay all of their debts. Chapter 13 Debt Consolidation gives you the opportunity to repay your debt either partially or in full over an approximate three to five year period. Your financial situation will be analyzed, and a feasible repayment plan will be established. In most cases, debtors only repay cents on the dollar of their unsecured debt. In some cases debtors will not repay any of their unsecured debt. Chapter 13 Debt Consolidation generally allows you to keep your home and vehicle. Once a Chapter 13 Debt Consolidation petition is filed, an automatic stay provision comes into effect. The automatic stay will immediately stop lawsuits, garnishments, foreclosures and repossessions, even if the process has already begun.

Chapter 13 Debt Consolidation can be approximately a three to five year re-payment plan. Once your Chapter 13 Debt Consolidation has been filed with your jurisdictions Bankruptcy Court, it will then be administered by an assigned Bankruptcy Trustee. Approximately 30 days after your case is filed, you will be required to attend what is called a 341 Meeting of the Creditors. Before the meeting, your bankruptcy attorney will help you prepare for the questions the Trustee may ask. The 341 Meeting of the Creditors generally only takes five to fifteen minutes.

After completing the Chapter 13 Debt Consolidation, your case will end with a discharge of all debts that you are entitled to discharge. Once the debt is discharged, creditors are forever banned from any collection actions against you or reporting it to a credit bureau.

Brock & Stout has years of experience as Dothan bankruptcy attorneys and providing legal services to Alabama. Contact us for your free consultation.

Reasons Chapter 13 Bankruptcy May Be Your Best Option:

  • If you are behind on your mortgage.
  • If you are behind on your car payment.
  • If your home is in foreclosure or in jeopardy of foreclosure.
  • If your vehicle is in jeopardy of repossession.
  • If you are being sued.
  • If your wages are being garnished.
  • If you are being harassed by creditors.
  • If you are unable to pay all of your debts but you want the opportunity to pay a portion of them back.
  • If you are able to pay your debts but would like to make one monthly payment through the Chapter 13 repayment plan to organize your debt and become debt free within a reasonable amount of time.
  • If you are having difficulty paying bills.
  • If you are having trouble meeting your basic needs and necessities.

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We are a debt relief agency. We have successfully helped thousands of people file for bankruptcy relief under the bankruptcy code.
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