Making Debt More Manageable
If you have some ability to pay back your debts, a Chapter 13 restructuring may be the best way to get relief from overwhelming debt. Chapter 13 is often used by people who have too much income to qualify for a Chapter 7 debt discharge.
At the law firm of Jon D. Beaty, our sole focus is helping people find solutions to debt problems. We have more than 15 years of experience doing that for people in Portage, Hobart, Valparaiso, Hammond, Highland and the surrounding areas. We will help you understand the Chapter 13 process, and we will be by your side from the beginning of your case to the end.
To speak to an experienced Portage Chapter 13 bankruptcy lawyer about your debt relief options, schedule a free initial consultation with Jon D. Beaty. Call 219-961-2126 or toll free 866-585-0082. You can also contact our law firm online.
How Does Chapter 13 Bankruptcy Work?
Filing for Chapter 13 in Portage or elsewhere is different than Chapter 7 because your debts are restructured in Chapter 13 rather than eliminated as in Chapter 7. Restructuring means that your debt is all put into one payment plan, and the court requires you to make only one payment per month. The payment amount is based on many factors including your income. Your payments are applied to secured debt, like your mortgage first, with only a small percentage going to unsecured obligations. At the end of the payment plan you will be caught up on your mortgage, and any remaining unsecured debt gets eliminated.
Why File for Chapter 13?
There are a variety of reasons that you may choose Chapter 13 bankruptcy rather than Chapter 7, including:
- You may not qualify for Chapter 7
- Chapter 13 allows you to protect more of your assets
- Chapter 13 gives you more time to catch up with mortgage payments
- Some tax debts are only dischargeable in Chapter 13 bankruptcy
When you visit our office, you will be able to work directly with experienced Indiana lawyer Jon D. Beaty, who will explain all the details and give you an honest appraisal of your options. We are here to help, and we welcome the chance to speak with you.
Contact a Portage, Indiana, Bankruptcy Attorney: Free Consultation
You do not have to continue running from debt problems. With help from our law firm, you can get a fresh start. To arrange your free consultation, call 219-961-2126 or toll free 866-585-0082. You can also contact our law firm online.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
