Chapter 13 bankruptcy is an interesting solution to managing your debts. Chapter 13 is known as reorganization bankruptcy, because all of your debts are addressed by paying a portion of them back. You get to keep your property, but you end up making a monthly payment for a period of three to five-year. Chapter 13 Bankruptcy can also help keep your house if you are behind on payments and facing foreclosure. Chapter 13 allows you to make a plan to repay any money you are behind on your mortgage over the three to five year period.
Chapter 13 is not for everyone, but many can use it to address creditors in a more organized and straightforward manner. Cataldo & Meeks, PLLC will make sure Chapter 13 bankruptcy is a better solution for your debts as opposed to Chapter 7 bankruptcy.
An attorney at Cataldo & Meeks, PLLC will help with the entire Chapter 13 process, which includes working with you to:
• Determine your eligibility
• See which of your debts have priority
• Discuss how much you earn and owe
• Figure out your repayment plan
Using our experience with Chapter 13 and our personal experience with clients, we’ll make sure your debt relief process goes as smoothly as it can. Soon, the weight of your debts will be lifted from your shoulders – and from your mind. Reach out to Cataldo & Meeks, PLLC today to see if Chapter 13 is the best route to address your debts.