Chapter 13 Bankruptcy

A Chapter 13 bankruptcy offers several advantages over a Chapter 7 bankruptcy and is used in many cases when an individual is trying to save their home from a foreclosure or a car from repossession. Perhaps one of the most important things a Chapter 13 bankruptcy allows you to do is “strip off” or wipe out a second mortgage if you meet certain criteria.  As is always the case, we will be glad to sit down with you for a free bankruptcy consultation to discuss your case and help determine the best course of action for you.

A Chapter 13 bankruptcy allows you to reorganize your debt and make a monthly payment to the bankruptcy trustee to satisfy your obligations. The repayment plan requires you to make payments over a three (3) to five (5) year period with the amount and length of your payments being determined by numerous factors. These factors include but are not limited to your monthly income, monthly expenses, the amount of debt and the nature of the debt. After making all of the payments to the trustee required by your plan you will receive a discharge from the bankruptcy court closing your case.  Any debts that are left unpaid will be wiped out at the end of the case.

Filing bankruptcy can be a stressful and difficult time. If you decide that bankruptcy is right for you, Jeffrey S. Posin and Associates is here to help. By retaining Jeffrey S. Posin and Associates to represent you in your bankruptcy case we can help you through the challenges you are facing and provide you with the fresh start that you and your family deserve. Don’t live another day under the stress of your uncertain financial condition, call Jeffrey S. Posin and Associates today to set up a consultation and take the first step to regaining control over your life.