Chapter 13

familyWhat is a Chapter 13 Bankruptcy?

We’re glad you’re exploring all of your options to get out of your debt morass. Bankruptcy courts were set up just for working people like you and, perhaps, your loved ones, who find themselves in these types of situations. If you’re ready to get rid of your baggage — debt, creditor calls, threats and stress, bankruptcy might be just the thing to help you get some sleep at night.

phone numberOur firm has helped more than 23,000 Chicago-area residents solve their personal debt crises. As a financial solution, Chapter 13 allows you to save your property, such as your house or car, from foreclosure or repossession. One of the benefits of Chapter 13 is the ability to repay some or all of your debts at a lower percentage, without interest (in most cases) during a three (3) to five (5) year period.

Basically, we will set up a Chapter 13 plan to include most, if not all your debts, into easy monthly trustee payments that go directly to the Chapter 13 trustee, who then pays your creditors. To qualify for a Chapter 13 bankruptcy, you must have regular income and sufficient funds to pay your monthly trustee payments.

The result: A solution on which you and your creditors can agree, and the knowledge that you did, indeed, pay your debts in a manner that allowed you to proceed with the rest of your life with grace and dignity.

What We Can Do For You

  • get harassing creditor phone calls off your back by accepting all your creditor calls
  • pull your credit report at no extra charge to you
  • prepare your bankruptcy petition and personally review petition with you
  • fax the notice of bankruptcy filing to your employer or creditors as necessary and immediately stop wage garnishment, foreclosure proceedings and/or vehicle repossessions
  • represent you at your mandatory “341 Meeting of Creditors”
  • prepare your case for court approval answer all your questions
  • prepare motions that you may need

How Long Does Chapter 13 Take?

Chapter 13 is implemented under court supervision. A typical plan is about 36 months. At the end of the plan, you will be discharged from all dischargeable, unsecured debts.

Chapter 13 Eligibility

You must pass the “means tests” and have a regular source of income to make the monthly trustee payments.

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