Chapter 13 Bankruptcy 2017-11-07T10:27:14+00:00

Chapter 13
Bankruptcy

A Chapter 13 bankruptcy is also called a wage earner’s plan. It enables individuals with regular income to develop a plan to repay all or part of their debts. In a Chapter 13 bankruptcy, the debtor is essentially going to the court and asking them for permission to reorganize their liabilities into one lump sum payment. The debtor will take all of their unsecured liabilities as well as any arrearage on their home or automobiles, pile them all together, and propose to the bankruptcy court a plan of repayment.

Chapter 13 Bankruptcy Attorney San Antonio

Chapter 13 Bankruptcy is a debt consolidation proceeding.  It allows individuals and small businesses owners to restructure their debts so that their payments are reduced and made more affordable.  In Chapter 13 you, with the help of your attorney, come up with a repayment plan to repay as much of your debt as is feasible based upon your disposable income. Even if you are not able to pay all of your debts in full, you may still be entitled to receive a discharge of those balances remaining.

If you home is in foreclosure or you are late on your car payments, Chapter 13 of the Bankruptcy Code, can consolidate your debt and will allow you to slowly chip away at it over a three- to five-year payment plan. Through careful reorganization and court oversight during your repayment, you will be able to keep your home and steadily reduce your debt to manageable levels.

debt

Chapter 13 bankruptcy allows you to

  • Restructure your debt
  • Work toward reducing secured debt through manageable monthly payments
  • Keep the equity in your home
  • Discharge your unsecured debt at the end of the term

San Antonio Bankruptcy Lawyer David T Cain can help you decide which Chapter of Bankruptcy Code is right for you and will help guide your through the process with as little frustration as possible. For an experienced Chapter 13 Bankruptcy Attorney, call The Law Office of David T Cain for a free and confidential consultation.

The Law Office of David T Cain also handles Chapter 7 Bankruptcy and Chapter 11 Bankruptcy.

 

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