Jacoby & Jacoby Articles Debt Reorganization: Chapter 13 and You

Debt Reorganization: Chapter 13 and You

By Jacoby & Jacoby  Jan. 17, 2013 5:15p

Do Not Suffer Without Help From A Bankruptcy Lawyer

If you, like millions of Americans, are suffering from crushing financial debt and feel as though there is no way out, please do not hesitate to seek help! If you are feeling pressure from your creditors, there is a way to put an end to those harassing phone calls and start a new chapter of your life.

By filing for bankruptcy with the help of an attorney, you can receive an automatic stay from the courts, requiring your creditors to immediately stop contacting you and demanding repayment. Once this is completed, you will begin the process of resolving your debt problems as soon as possible.

Creating A Plan That Works For You

There are many reasons why our clients might choose to file for Chapter 13 debt restructuring. If you believe you will not pass the means test because your average monthly income is above the threshold, or if you possess significant assets that you wish to protect from liquidation, you will likely wish to pursue an alternate path. Luckily, by filing for Chapter 13, you can avoid these difficulties.

Chapter 13 involves the creation of a new repayment plan based on your personal finances. A trustee will perform a comprehensive review of your finances to determine a monthly sum that you will be able to pay without unfairly burdening yourself. The trustee creates a plan that will allow you to slowly pay your debts over time, without the hassle of creditor harassment.

Your debts are consolidated into a single payment, which you will make to the trustee every month, usually over the course of three to five years. Once this period is finished, any remaining eligible debts are wiped away and your creditors are considered satisfied! This plan is usually best for those clients with a regular income upon which they can rely for several years, or those with property they do not wish to lose.

Seek Help From Our Law Offices Right Away

Do not allow yourself and your family to suffer any longer from the weight of seemingly insurmountable debt! Please, seek help from a bankruptcy attorney with Jacoby & Jacoby today to learn about the options available to you. At our firm, we are dedicated to protecting you and your family from unscrupulous creditors and protecting your financial interests as aggressively as possible. Please, contact our offices right away to discuss your financial situation with a member of our team ASAP.

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