Attorney at Law

Stuart G. Steingraber
Realize Your Constitutional Right for Qualified Legal Help

Chapter 13 Bankruptcy

The two most common chapters for consumers in the Bankruptcy Code are Chapter 7 and Chapter 13. While there is some overlap, an individual's specific situation and needs will determine which filing is the most appropriate. Let me guide you through this difficult time.

As opposed to Chapter 7, Chapter 13 is essentially a debt reorganization and repayment program. Individuals with significant assets or substantial income may have to file Chapter 13 rather than Chapter 7. Chapter 13 offers individuals a number of advantages over liquidation under chapter 7. Perhaps most significantly, chapter 13 offers individuals an opportunity to save their homes from foreclosure. By filing under this chapter, individuals can stop foreclosure proceedings and may cure delinquent mortgage payments over time. As a skilled and experienced bankruptcy attorney, I can thoroughly explain the difference and which program might be right for your unique situation.

You probably heard about debt consolidation on television or radio ads. The only true and effective method of debt adjustment is Chapter 13 bankruptcy. In Chapter 13, your debt will be adjusted and you will pay a certain amount under the Chapter 13 plan which will be distributed to your creditors by the Chapter 13 trustee. You will likely be required to pay only a small percentage of your unsecured debt.

Based on your income, you will be required to follow a three- or five-year repayment program. At the successful completion of the repayment period, all of your remaining unsecured debt will be eliminated. Let me help you examine your financial situation and determine which form of bankruptcy is right for you.

If you have further questions regarding Chapter 13 bankruptcy, contact an experienced lawyer. Schedule a free initial consultation by calling 951-549-9446 or by completing my convenient online contact form.

I am an experienced bankruptcy attorney. I help people file for bankruptcy relief under the Bankruptcy Code.

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