Relieving Debt Woes Through Chapter 13 Bankruptcy
Lawyer Assisting Clients Throughout Arizona
Some individuals may not meet the qualifications to file a Chapter 7 bankruptcy or have assets they wish to keep like their home or boat. Chapter 13 bankruptcy may be a better option.
Alternative Bankruptcy Option: Chapter 13
Chapter 13 is designed to help you find relief from your debt while still fulfilling your financial obligations. The process, while sometimes confusing, allows you to catch up on payments while staving off foreclosure, wage garnishments and repossessions, and ending harassment from creditors.
Our office will help explain the process and answer your Chapter 13 questions, including:
- What is a Chapter 13? Chapter 13 bankruptcy involves a payment plan that allows you to reorganize your debts into one manageable monthly payment that lasts between 3-5 years. A trustee administers your bankruptcy and distributes your payments amongst the creditors you owe.
- How do I know what my monthly payment will be? Your payment will be determined by your income and your debts, but will be an affordable amount based on your income.
- Do I have to pay back all of my debt? No. A common misunderstanding about Chapter 13 is that you do not pay back ALL of your debt. In fact, you pay a percentage. You have one monthly payment you pay that depends on how much money you make. That monthly payment gets divvied up to pay your car, mortgage arrears, back taxes and other debts.
Overcoming Your Worries
Whether Chapter 7 or Chapter 13 bankrupty is the best option for you, our main goal at Johnson Law Offices is to help you get through this tough time in your life. Like you, Ms. Johnson has experienced crisis in her life and understands the emotional distress, stress and embarrassment you may be feeling.
Relief is available! Bankruptcy can help!. Contact our Tucson, Arizona, office online or call 520-777-1217 (toll free: 888-674-8421) to see how Chapter 13 can benefit you. Free consultations are offered.
