Most people do not realize that debt repayment plans are an integral part of some bankruptcies. Repayment plans are particularly useful when your top priorities include remaining in your home, keeping your car or finding a way to bring non-dischargeable debts current. At Tishkoff PLC, our attorneys will take the time to work with you, face-to-face, as they make a careful assessment of the legal debt relief options available to you, as well as of the potential advantages and pitfalls.
Repayment Plan Attorney
When a debt does not qualify for discharge, then it can be extremely helpful to arrange a manageable debt repayment plan specifically structured to either bring these debts current or pay them off. For example, if you are behind on your mortgage, a repayment plan can be used to bring the mortgage current. If you are behind on your child support or taxes, simply eliminating your unsecured debt may make it possible to bring these obligations current. Both Chapter 11 and Chapter 13 of the Bankruptcy Code allow for the creation of a payment plan for existing loans and other debts, to make repayment easier.
Our attorneys are well versed in the differences between Chapter 7, 11 and 13 of the Bankruptcy Code. We will examine all of the options available to you, identify a legal strategy that most effectively meets your situation and your goals and provide you with a complete explanation, including potential consequences.
The sooner you act, the sooner we can identify the debt elimination plan that most effectively and efficiently addresses your financial problems.
Chapter 13 Bankruptcy Attorney
Repayment plans are most commonly associated with a Chapter 13 bankruptcy. Individuals who do not qualify for a Chapter 7, or are trying to avoid losing assets that cannot be protected through a Chapter 7 bankruptcy, frequently utilize Chapter 13.
Chapter 11 Bankruptcy
Chapter 11 is most commonly utilized by businesses needing to restructure their finances, eliminate unsecured debts and establish payment plans for the remaining debts. However, this option is also available to individuals.
Call For a Free Consultation With Experienced Bankruptcy Attorneys
For a free 30-minute consultation with our experienced bankruptcy lawyers, please contact our office today. We are a debt elimination agency. We help people file for bankruptcy relief under the Bankruptcy Code.