If you have regular income but cannot afford to pay all your creditors, Chapter 13 bankruptcy puts foreclosure, repossessions, and debt collections on hold and provides the breathing room and allows you to pay only that portion of your unsecured debts you can afford over time. Most Chapter 13 cases do not pay all unsecured debt and some cases pay nothing to unsecured creditors. With some exceptions, those debts not paid in a Chapter 13 Plan are discharged.
Extensive Experience In Chapter 13 Bankruptcy
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Arcadia • Upland • Moreno Valley
In a Chapter 13 repayment plan your unsecured debts can, in most cases, be substantially reduced or eliminated. You get instant relief from creditor actions and gradually pay only that portion of your debts that you can afford. You will make a fixed monthly payment for a minimum of 36 months up to a maximum of 60 months, based primarily on your ability to pay. At the end of the plan, all remaining dischargeable debt is eliminated. You don’t forfeit any assets except for those you wish to surrender.
The Hedtke Law Firm is ready to help you save your home or get back on your financial feet. Call us at 626 593-1558 to set up your free initial consultation.