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Phone: 215-774-6158
Locations
1816 West Point Pike
Suite 121
Lansdale, PA 19446
128 Chestnut Street
Suite 301-B
Philadelphia, PA 19106
Hours
- Mon - Sun
- Open 24 Hours
Call Now: 215-774-6158
Chapter 13
Helping you repay your debts over time without losing your hard-earned assets
Chapter 13 Bankruptcy Attorney In Lansdale & Philadelphia, Pennsylvania
What Is A Chapter 13 Bankruptcy?
If you do not qualify for a Chapter 7, a Chapter 13 might be a valuable type of relief under the Bankruptcy Code for you. Chapter 13 Bankruptcy is a payment arrangement that allows you to pay back debts, including missed mortgage or auto loan payments, over time to help you save your home or car. Chapter 13 is a good alternative for people who do not qualify for Chapter 7 because their income is too high. However, it is not limited to high-income earners.
Contact Tadross Law to schedule a consultation with a lawyer today. 215-774-6158
Chapter 13 Process
The initial process is very similar to a Chapter 7, in that we would, on your behalf, submit the petition, schedules, and other documents detailing your financial situation to the Court. Unlike a Chapter 7, however, under a Chapter 13, we would also submit a plan to the Court outlining your repayment plan to your creditors, detailing the proposed length of repayment and amount of repayment. , how long it will take, and how much each creditor will get.
Your payment plan is based on your “disposable income,” which is the income remaining after paying off certain allowable expenses (E.g., housing, utilities, etc.). In order to take advantage of a Chapter 13, you will be required to show that you have sufficient regular income to pay back at least a portion of your debt.
Chapter 13 Benefits
Chapter 13 has several important advantages over Chapter 7 for those who qualify, including the following:
- Allows you to keep your home by providing the breathing room you need to catch up on your payments
- Eliminate Second Mortgage Liens.
- Reduces payments on qualifying vehicles and other secured debts, making them affordable
- Provides time to catch up on child support and unpaid taxes
- Enables you to repay a portion of your credit card and other unsecured debt
- Make payments directly to your bankruptcy trustee, who then pays your creditors, so you no longer need to deal with creditors directly.
- Protect Co-Signers From Collections, without requiring them to file a bankruptcy petition.
Contact us at Tadross Law to set up a FREE CONSULTATION to discuss your Chapter 7 bankruptcy in greater detail!
Disclaimer: We are a debt relief agency. We are attorneys who help people file for bankruptcy relief under the bankruptcy code.
We Can work within your budget
If you think you don't have options, think again. Give us a call for a free consultation to see what can be done. Creditors have their attorneys, and so should you.
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Lansdale Office
1816 West Point Pike
Suite 121
Lansdale, PA 19446
Hours
We are open 24 hours a day
We are proudly designated as a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. This website is general in nature and for informational purposes only. This website does not create an attorney client relationship under attorney rules of ethics. An attorney client relationship is created with us only after a meeting and the signing of an attorney client engagement agreement. We encourage you to seek legal counsel regarding your particular situation.