We have locations available by appointment in the following areas. Please call us to speak to an attorney and set up an initial meeting.
Facing a large amount of debt is never easy, even in cases where you have some assets to rely on. If you feel as though your current financial situation is unsustainable, it may be time to consider filing under Chapter 13 of the bankruptcy code with the help of our compassionate attorneys.
Chapter 13 is ideal if you have some available assets but not enough to pay off all your debts. The process involves making payments to creditors over three to five years. With the help of an Allen Park Chapter 13 bankruptcy lawyer, you could resolve your debts and get the fresh financial start you need.
Chapter 13 bankruptcy is often an option for individuals who have a steady income but need more time to manage their debt. To qualify, you must show that you have a consistent and reliable income, which could be from wages, self-employment, pensions, Social Security, or contributions from family members, to fund a repayment plan. The court will review your income and expenses to determine whether the proposed plan is feasible over three to five years.
You must also consider debt limits. Individuals whose obligations exceed the federal caps on either secured or unsecured debt may not be eligible for Chapter 13. These limits are adjusted periodically, so it is important to check the current thresholds before you file.
Additionally, you cannot file under Chapter 13 if a court has dismissed a bankruptcy case of yours within the past 180 days for specific reasons, including failing to appear in court or comply with court orders. Our Allen Park attorneys could help you determine if you meet the qualifications to file for bankruptcy under Chapter 13.
There are several important benefits available to debtors who file for bankruptcy under Chapter 13. A bankruptcy attorney in Allen Park could help you create and get approval for a wage earner’s plan that shields you from creditors, protects your assets, allows you to catch up on paying secured debts, consolidates repayment, and discharges any remaining debt.
The automatic bankruptcy stay goes into effect the moment you file your petition. Your creditors are barred from suing you, making collection calls, or garnishing your wages.
In many situations, Chapter 13 allows you to keep your property. This makes it distinct from other types of bankruptcy that might require you to liquidate assets.
Chapter 13 also gives you the chance to catch up on overdue payments for secured debts such as mortgages and car loans. The repayment plan spreads these arrears over three to five years, making it easier to restore your accounts to good standing without the immediate threat of foreclosure or repossession.
Instead of juggling multiple creditors, Chapter 13 simplifies the process by consolidating payments. You will make one monthly payment to a trustee, who distributes funds to your creditors according to the plan. This creates a more manageable and predictable system for handling debt obligations.
At the end of the repayment plan, any eligible unsecured debts, such as credit cards or medical bills, that remain may be discharged. This provides a pathway to financial stability and a fresh start.
If you are considering bankruptcy, Chapter 13 might be the right choice for you. Before you file on your own, consider discussing your options with an Allen Park Chapter 13 bankruptcy lawyer. We could advocate on your behalf and offer guidance that helps you make decisions with confidence. Fill out our bankruptcy calculator today to discover how we could help you.
We have locations available by appointment in the following areas. Please call us to speak to an attorney and set up an initial meeting.
We are a debt relief agency helping people file bankruptcy under the United States Bankruptcy Code.
Click Here To Read The Required Disclosures About Bankruptcy
Fairmax Law PLLC
N/a 
