Chapter 13 bankruptcy is considered a "wage earner" bankruptcy, and may be advisable for people who do not qualify for Chapter 7 bankruptcy. Many people who are eligible for Chapter 13 bankruptcy have encountered temporary setbacks that result in overwhelming debt.
A temporary interruption in income, such as a job loss, or a temporary spike in debt, such as a medical bill not covered by insurance, can begin a spiral of debt that many people are unable to recover from.
At the Law Office of Robert A. DePont, we provide experienced guidance to consumers who are interested in obtaining debt relief through Chapter 13 bankruptcy.
Don't wait while you struggle with debts that continue to grow. Contact us today for a free consultation with attorney Robert DePont about filing Chapter 13 bankruptcy.
How do you know which bankruptcy chapter fits your situation?
There are two types of personal bankruptcy: Chapter 7 and Chapter 13. Chapter 13 bankruptcy reorganizes debt into a three- to five-year repayment plan based on your ability to pay. Your debt is discharged after you finish your repayment plan, even if you have not paid off all of the debt. Chapter 7 bankruptcy discharges most types of debt completely. Our firm will first determine if you qualify for Chapter 7 bankruptcy.
Reasons you may not qualify for Chapter 7 bankruptcy include:
- Your income exceeds the income permitted under Chapter 7 bankruptcy. This is determined with a means test that considers your income in light of the median income of your state.
- You have filed for a Chapter 7 bankruptcy too recently.
What can Chapter 13 bankruptcy do for you?
Our law firm has been providing nonjudgmental, straightforward legal advice to consumers since 1993. We have helped many people just like you start fresh on their finances and gain back their financial freedom. Chapter 13 bankruptcy can provide you the following relief:
- Stop creditor harassment immediately
- Stop wage garnishment
- Stop repossessions
- Halt foreclosures
- Halt interest and penalties
We invite you to contact our firm today to arrange your free bankruptcy consultation. Our office hours are Monday - Friday, 9:00 a.m. - 5:00 p.m., and we can arrange after-hours appointments if necessary. We are located just steps off Church Circle in Annapolis.
