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When does Chapter 13 bankruptcy make sense?

Maybe you're dealing with old debts that you were never able to clear. Maybe no income you're able to generate can handle the expenses of interest on loans. Either way, you may be eligible for Chapter 13 bankruptcy.

What's the difference between Chapter 7 and Chapter 13?

Chapter 7 is often called a liquidation because a trustee is empowered to sell off most remaining assets to cover a person's debts. Chapter 13 is referred to as a wage earner's bankruptcy because many people can keep assets and work out a way to repay debts, just like businesses in Chapter 11 bankruptcy.

How do people repay debts under Chapter 13?

People often work out a payment plan to pay off most or all debts within a few years. This is where the nickname comes from, as people must assure the court that they will have the ability to adhere to the payment plan.

How do people prepare to file for Chapter 13?

There are some fees that must be paid to the court, and a full list of debts and creditors is necessary to make sure all debts are accounted for in the process. A breakdown of the assets and income for the filer is also required to see if Chapter 13 will work out.

Who can help with a bankruptcy filing?

People considering bankruptcy may always consult an attorney. Legal representation may make a filing more likely to be successful. A lawyer can take a look at the details required for bankruptcy and represent a person directly in court if necessary.

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Contact my office to discuss your debt relief needs directly with me as your lawyer. I offer a free initial consultation to all new clients where you can learn more about your legal options and what I can do to help you. I am available during regular business hours and by appointment at other times. You can reach me by phone at 860-242-0574 and 860-952-3674 or via email.

My law firm is a debt relief agency as so designated by Congress in the year 2005. I help people file for bankruptcy relief under Title 11 of the United States Code, known as the Bankruptcy Code.

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