Chapter 13 Bankruptcy
Is Chapter 13 Bankruptcy Right for Me?
Nashville Bankruptcy Attorneys are here to guide you.Chapter 13 is one method under the Bankruptcy Code to obtain relief from your creditors while at the same time providing a fair means to pay them back as much as you can. It allows you to keep some of all of your property during the time you are paying your creditors back, and it permits you to modify some contract payments and interest rates. Your plan can eliminate late charges and penalties and allow you to extend payments on some of your debts. Chapter 13 has gained widespread acceptance across the country as an attractive alternative to straight bankruptcy (Chapter 7). Chapter 13 bankruptcy allows you to pay your debts at an affordable rate rather than the rate creditors want you to pay. Chapter 13 bankruptcy normally allows you to keep your personal property, such as homes, cars, and furniture. Even if you are behind on your car or home payments, you can keep them over the objections of creditors. This is different from a Chapter 7 where the creditor can take back the car, home, or furniture if they want to, even if you are paying for it on time. Chapter 13 also allows you to pay some or all of your unsecured debts, such as medical bills, credit cards, and payday loans.
The creditors cannot call you at home or work. They cannot send you letters, sue you, garnish your wages, or seize your property. They have to direct all contact with you through your attorney’s office. Even if you are already being garnished or a judgment has been entered against you, it is important to know:
Chapter 13 stops garnishments
Chapter 13 stops foreclosures and repossessions
The IRS can be paid through a Chapter 13
It is possible to substantially lower payments on cars or furniture
( Your attorney will let you know during a consultation if your car or furniture loans qualify to be lowered. )
Schedule a Free Consultation Today,
Have Peace of Mind Tomorrow
It’s a good idea to ask questions regarding your options and rights before deciding to file for bankruptcy. At Flexer Law, you can meet with an experienced bankruptcy attorney in Nashville, Murfreesboro, or Columbia to get all of your questions answered before you file. The initial consultation is free and can help you determine if filing a Chapter 7 bankruptcy is the right decision for you.