Chapter 13 Bankruptcy

Answer:

Every time I meet with a bankruptcy client, we go over the different chapters in bankruptcy. Often, Chapter 13 becomes the relevant consideration. A Chapter 13 bankruptcy entails a monthly payment plan. It can go anywhere from three years to five years, and the term of the plan itself depends on the amount of income that the debtor has. The idea in a Chapter 13 is the debtor commits disposable income toward payment of unsecured claims or toward the cure of a secured creditor to retain collateral. The considerations are complex and specific to each client’s situation.

I strongly recommend, if you’re considering Chapter 13, to pick up the phone and give us a call. I’m happy to meet with you at no cost, and we can determine whether Chapter 13 is the right fit for you.