CHAPTER 13
Repay Your Debt Over A Period of Time With Chapter 13
Chapter 13 bankruptcy is a solution for individuals that are having trouble paying off debt, but have too much income and assets to qualify for Chapter 7 liquidation bankruptcy. Instead of discharging debts, Chapter 13 sets forth a plan to help you make manageable payments for a period of three to five years. One of the best reasons to file for Chapter 13 bankruptcy is to prevent a looming foreclosure, or vehicle or furniture repossession by arranging for you to make affordable payments that help you keep your property.
Do I Qualify For Chapter 13 Bankruptcy?
In order to qualify for Chapter 13 bankruptcy, the court will consider whether you have enough income to maintain the payment plan that’s proposed. There is no limit on monthly income for Chapter 13, but there are limits on the amount of secured and unsecured debt you can have to qualify. Renewal Debt Relief Law can help you assess whether you qualify for Chapter 13 bankruptcy.
Chapter 13 Bankruptcy Attorney
If you qualify for Chapter 13 bankruptcy, you can usually keep your home, your vehicle and many other valuable possessions while you pay off your debts on a manageable schedule. Renewal Debt Relief Law is the bankruptcy law firm that people trust to help them turn their financial situation around.