Breathing Room to Repay Debts Over Time
Chapter 13 Bankruptcy Lawyer in Holbrook, Massachusetts
You're working, maybe more than one job. You've cut back on expenses. Maybe you've refinanced or tapped your retirement. But every month, you get a little farther behind.
Chapter 13 bankruptcy is a debt repayment plan, based on your ability to pay. It puts an immediate stop to collection actions and creditor harassment, including home foreclosure, tax collectors, and/or car repossession. It may be the best or only solution to your financial problems, especially if you are in danger of losing your house.
You Know You Need to Do Something
The Law Office of Doug Surprenant in Holbrook has helped people throughout Norfolk, Middlesex, and Plymouth counties get relief from debt and relief from creditors through bankruptcy. I am an experienced attorney who will answer all your questions and explain your options in a free consultation. Talk to me at 888-840-3516.
Working Your Way Out of Debt
In a Chapter 13 bankruptcy, or "wage earner's plan," you pay a fixed amount each month to a bankruptcy trustee for 36 to 60 months (three to five years). At the end of your plan, any remaining debt is discharged.
It all depends on your specific numbers, but many clients have ended up paying only 10 to 20 percent of the total they owed.
You may be a candidate for Chapter 13 bankruptcy if:
- You earn too much to qualify for Chapter 7 bankruptcy
- You would forfeit or have unprotected assets in a Chapter 7
- You are behind on your mortgage and facing foreclosure
- You have a second mortgage on your home that you want to eliminate
- Most of your debt is student loans, child support, back taxes or other debts which cannot be discharged and must be repaid
In a Chapter 13, you do not lose any personal property. You can keep your car and your house if you can continue making the loan payments AND the monthly bankruptcy payments. My job is to make sure your Chapter 13 plan is realistic so you can stay on track for debt freedom, you stop mounting interest and penalties, and if your house value is less than your first mortgage then your second mortgage could simply go away.
Take Control of Your Life
Bankruptcy does have its drawbacks. I will sit down with you to find the best solution, including alternatives to Chapter 13. Contact me today for a free 30-minute consultation, including evening or weekend appointments.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
