Chapter 13, referred to as reorganization bankruptcy, is a unique alternative to the traditional Chapter 7 bankruptcy. When people come to Tishkoff PLC for solutions to debt problems, they are often unaware of how this option works. Our attorneys will educate you about Chapter 13 and, if it is right for you, we will carefully guide you through the process. Your case will get the hands-on attention you deserve.

Washtenaw County Bankruptcy Reorganization Lawyers

Chapter 13 bankruptcy involves reorganizing your debts. The process starts with the creation of a repayment plan that is based on your disposable income — the income left over after all your necessary costs are covered. Over the course of three to five years, that income will be used to pay down your debts. Some debts may be paid in full, while only a small percentage of others will be paid through the plan. However, upon completion of the plan, most of the remaining debt will be discharged so you can move forward debt free.

Need to stop foreclosure, repossession and garnishment? Chapter 13 can help.

The Pros and Cons of Chapter 13

We want you to make the choice that is right for you. That means exploring the pros and cons of every available option, including Chapter 13. The pro that tends to stand out is that you will not have to worry about losing any of your property. This type of bankruptcy also comes with some hidden benefits. It may allow for certain types of debt negotiation, including car loan cram downs and second mortgage stripping. Cons include the loss of disposable income for years. Chapter 7 may be the more appropriate option if Chapter 13 does not work for you.

Contact us today to schedule a free 30-minute consultation with our Chapter 13 bankruptcy lawyers.


407 North Main Street
Ann Arbor, Michigan 48104
Phone: (734) 663-4077
Toll free: 1 (855) TISH-LAW
Email: tishkoffplc@Tish.Law
Fax: (734) 665-1613

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