Addressing Debt Through Chapter 13 Bankruptcy
Chapter 13 is an effective means of addressing overwhelming debt for people who have some form of steady income, whether through a job, unemployment benefits or another source. Unlike Chapter 7, which discharges most of your debt immediately, filing for Chapter 13 will reorganize your debt and allow you to pay down your debt through affordable payments over a three to five-year period. At the end of this repayment period, any remaining obligations under the repayment plan will be discharged.
At the Law Offices of Darin D. Pinto, P.C., our attorney can explain the benefits of filing for Chapter 13 and whether this is the right option for your situation.
You May Be Able To Hold On To Your House And Other Assets
When you file for Chapter 13 protection, any collections actions being taken against you will come to an immediate halt, including foreclosure proceedings. This can buy you the valuable time you need to catch up on your mortgage payments or other forms of secured debt, such as an auto loan.
If you do not have a steady stream of income or have limited income, Chapter 13 may not be the best option for you. In these cases, a Chapter 7 filing may better address your needs. Regardless of your situation, our lawyer will thoroughly review your situation and provide you with the information you need to choose the best path forward for you.
Do You Need Time To Catch Up On Payments? Contact Us For A Free Consultation.
If you are struggling with unpaid or overdue bills, help may be just a phone call away. To schedule a free consultation, call our law offices in Westfield, New Jersey, at 908-317-9405. You may also contact us online, and we will get back to you as soon as possible.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.