Filing a petition under Chapter 13 could end calls from collectors while allowing you the opportunity to get you finances back on track. If you’re current debt surpasses your ability to repay those debts, contact the Vivian Law Firm and begin the process of taking your financial freedom back. With the right legal representation, Chapter 13 bankruptcy could save your home from foreclosure. Attorney Matthew J. Vivian is committed to returning his clients back to a position of financially stability and saving their property from repossession.
Understanding Chapter 13 Bankruptcy
Chapter 13 provides many advantages over Chapter 7 for individuals filing for bankruptcy. Most notably, the ability to save the debtor’s home from foreclosure. In addition, secured debts can be rescheduled and extended. This often makes payments smaller, making the debt more manageable.
Any person with a regular income is eligible to file Chapter 13 as long as their unsecured debts are less than $360,475 and secured debts are less than $1,081,400. This includes individuals who are self-employed or operating an unincorporated business, such as a sole proprietorship.
How to get started
Similar to Chapters 7 and 11, Chapter 13 cases begin with the filing of a petition by the debtor. If you’re present debt exceeds your capability to repay those debts you should consider contacting an attorney. Even if bankruptcy isn’t right for you, a knowledgeable attorney could assist you in making the right decisions for your individual financial situation. Put your trust in the Vivian Law Firm and receive relief from harassing phone calls and letters from collectors without losing your home.