Chapter 13 Bankruptcy

Chapter 13 Bankruptcy creates a re-payment plan that lasts three to five years, depending on your specific situation.

Chapter 13 Bankruptcy can stop a foreclose on your home and even give you a chance to catch up on mortgage arrears. To qualify, you must have a steady source of income, such as from a job, self-employment, a business, retirement income, or social security.

Chapter 13 Bankruptcy Plans must be approved by the Bankruptcy Trustee and the Bankruptcy Court. It can be complicated. Here At the Law Offices of Barbara B. Braziel we have filed thousands of Chapter 13 cases. You will be in experienced and capable hands with us.

We are here to help you understand the power and benefits of Chapter 13 bankruptcy.

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July 28, 2018

I seriously cannot express how grateful I am for your services! I have felt completely burdened by this debt for years and am finally making some strides toward paying down all of my student debt!

July 28, 2018

I seriously cannot express how grateful I am for your services! I have felt completely burdened by this debt for years and am finally making some strides toward paying down all of my student debt!

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Benefits of Chapter 13

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Stops wage garnishments, stops lawsuits filed by creditors, stops harassing creditor phone calls, and stops automobile repossession.

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Can stop foreclosure and allow a homeowner to catch up on mortgage arrears.

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In some cases, allows a homeowner to “lien strip” or eliminate a second mortgage.

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Creates an opportunity to catch up on missed car payments.

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Creates an opportunity to catch up on other missed payments, such as back taxes or child support payments.

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At the conclusion of the Bankruptcy, any remaining credit card debt, medical bills, or other unsecured debts, and some tax debts, are discharged.

Drawbacks of Chapter 13

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Requires monthly payments to the Bankruptcy Trustee. We all understand that unforeseeable things happen. If a plan payment cannot be made, there are processes to address it.

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You cannot take out a loan while in Chapter 13 Bankruptcy without prior permission from the Bankruptcy Court.

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Student loan debts are not generally discharged.

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Depending on your specific case, you may still owe on some debts after bankruptcy, such as tax debts.