Chapter 13 Bankruptcy – Debt Relief
You ask how does ALL of this work? Well, I have the answers!
Chapter 13 filing will halt Home Foreclosures, Tax Liens, and protect you from law suits, bank account levies (your checking and savings accounts), lien judgments, wage garnishments (attaching your pay check), and settling with your creditors!
How does our law firm work for you? A Bankruptcy Attorney, a local resident of your community, who cares!
We understand this could be a bit overwhelming. Attorney Stephen Labiak, has years of experience and has your best interest in mind. He and his legal team will review your income, assets, and outstanding debt. This chapter works bests for higher-income people who do not qualify for Chapter 7 Bankruptcy. By our staff comparing your income to the means test we will have a solid understanding if this chapter is right for you. Our Bankruptcy expert Attorney Stephen, will analyze your financial disposition, review the Chapter 13 repay plan guideline and advice you of the best solution.
Let’s talk BENEFITS of filing a Chapter 13 Bankruptcy.
First and foremost, once you have filed your Chapter 13 Bankruptcy, just as the Chapter 7 Bankruptcy, the court will notify your creditors and the Automatic Stay goes into order! One of the upmost important benefits from filing a Chapter 13 as well as a Chapter 7, is the Automatic Stay. This protection under the U.S. Federal Bankruptcy law, announces the ban of any creditor you have listed on your bankruptcy filing to further pursue you in any form of collections. No more harassing phone calls at home or work! This will also stop any legal proceedings in their tracks. This means foreclosure sales and auctions are stopped immediately. Wage garnishments are also ceased. Any lawsuit you are involved in is paused. The stay stops everything and gives you a chance to breath and get your finances organized.
What is Chapter 13 Bankruptcy?
It is a reorganization of your debt and finances. As little as (3) three to (5) five years you can be debt free, paying off your credit card debt, medical bills, collections and other unsecured debt with no interest. Yes, that’s correct, no interest. The interest that creditors have been charging you will no longer be. Imagine no interest, a plan that helps you deal with your obligations best. Of course, this plan calculation will take in consideration how much you can afford to pay back on a monthly basis. Won’t that be great? (1) one monthly payment throughout the duration of your approved Chapter 13 Bankruptcy plan. Here’s one thing that is not always said. Only creditors who respond and file a claim will be included in the plan. If they do not reply in the allotted time, in most cases this debt is forgiven and not included in the plan. Upside for you? It’s less you will be obligated to pay back to a given creditor. While it may not happen for you, I did a case where less than $20.00 filed claims. That is not a typo, twenty dollars. The payments were done before they even barely got started.
A summary how the plan is shaped to work for you?
The plan will be administered by the U. S. Federal Bankruptcy appointed Trustee on your behalf. You simply will make 1 monthly payment over the course of your plan, directly to your court appointed Trustee. The trustee collects your payment as agreed and administers a percentage to your creditors. It’s that simple and no interest paid back, lowering your debt overall!
Want to Save your Home? STOP a Home Foreclosure? STOP a Home Auction?
Saving your HOME! If you find yourself with a past due Home Mortgage Loan, Home Foreclosure proceeding and perhaps a Home Auction proceeding this maybe the best solution for you! By filing a Chapter 13 Bankruptcy, the automatic stay can buy you some time. For once time is on your side!
Our legal team will prepare the legal documentation and serve your creditors immediately. We will take all measures to serve your creditors with notice. Once your creditors are served, you will have time on your side. Remember, the Automatic Stay goes into effect, an important benefit to filing Chapter 13. This step should give you some peace of mind. This time is a valuable benefit. Time on your side to rethink, shall you decide to keep your home mortgage or perhaps relocate and get that “fresh start”.
What’s more, here are more benefits to filing a Chapter 13.
Curious what “strip off” the Second Mortgage means in Bankruptcy language?
We can further discuss this at your FREE Bankruptcy Consultation. Just know is some cases, meeting specific guidelines, a Chapter 13 can “strip off” your second home Mortgage, leaving you with only your primary first home mortgage loan. Call us today, Attorney Labiak, will go over with you in detail and give you the best solution possible!
You may even lower a car payment or two.
In a Chapter 13 Bankruptcy in certain situations you only have to pay back what the asset is worth and not what you owe. So if you have a car that is worth $10,000 and you owe $20,000, it may be possible to only pay back $10,000. Based on the savings, it is like paying for your car and getting the bankruptcy filed for you for free.
Struggling to pay delinquent taxes? Past Due IRS taxes? State taxes? Federal taxes?
Some of the BENEFITS of Chapter 13 Bankruptcy filing will help you deal with the issue on hand, such as delinquent taxes. Chapter 13 STOPS, further proceedings such as lien judgement on your secured debt, monthly penalties and interests imposed by the IRS. Those past due State Taxes, Federal Taxes can be dealt with. Don’t let past due IRS taxes, State taxes, Federal taxes take over! Let the protection from the Chapter 13 help you while paying off your delinquent taxes!
Closure, I’d like to share.
Rest assure, The Law Offices of Stephen Labiak has filed over thousands of cases and will work for you. He and his legal staff will look at each measure to help. We are not afraid to go the extra mile. We treat your case as if it was one of our own!
Once our legal staff has drafted and filed a reorganization repay plan under the Chapter 13 Bankruptcy. You will be well on your way moving forward!
So, know there is relief in the automatic stay protection of a filing a Chapter 13 Bankruptcy. There is hope. Allow us to take a closer look at your financial position to help us suggest if Chapter 13 is right for you.
I, would appreciate the opportunity to further discuss into depth the benefits of filing the Chapter 13 Bankruptcy. My law firm, offers a no hassle, no obligation, FREE Chapter 13 Bankruptcy Consultation. No more losing sleep, call Today!
We hope you found some peace in our summary. I am here to help.
-Attorney Labiak & staff
We look forward to filing your bankruptcy and all filings will occur upon retainer being paid in full.