Chapter 13 Bankruptcy

Chapter 13 Bankruptcy is a great option if you have fallen behind on your mortgage and/or car payments while trying to cope with other consumer debt. If you are considering Chapter 13 bankruptcy you need to take action quickly to save your home and/or your car. We can help you determine whether filing a Chapter 13 or Chapter 7 bankruptcy is appropriate given your personal financial situation. We understand the impact filing Chapter 13 bankruptcy will have on your personal and financial life. We also understand the hazards and impacts of seeking alternative solutions for your financial matters. Making informed decisions regarding your financial situation is critical. Contacting a Chapter 13 bankruptcy lawyer is essential.

Unlike the many debt settlement options on the market today ( debt consolidation, debt elimination, and debt reduction plans), bankruptcy is fully supported by the Federal Government, the Federal Courts, and the local courts. When you retain the Law Offices of James Jeffrey Jackson to prepare and file your Chapter 13 bankruptcy petition, you will obtain many benefits not offered by non-bankruptcy debt relief plans. You will have an attorney whom you can direct your creditors and debt collectors to. You will have the ability to stop collection actions, including foreclosures and repossessions, while your petition is being considered by the bankruptcy court. If you are considering a non-bankruptcy form of debt relief, you need to contact an Ohio Chapter 13 bankruptcy attorney to understand all of your options. Feel free to contact us at 740-369-6812 or by email to better understand what these plans will not do for you and what bankruptcy will do for you.

Drawing on more than 30 years of experience representing individuals in personal bankruptcy matters, we can help you obtain debt relief. Considering whether to file bankruptcy is a deeply personal and unsettling matter. We understand your fears and will help you through the process. Contact our office to schedule a confidential consultation and learn more about the Chapter 13 bankruptcy process.

Unlike Chapter 7 bankruptcy, almost anyone can qualify for debt relief through Chapter 13. If you make too much money to file a Chapter 7 bankruptcy you may still qualify for relief under Chapter 13. A primary goal of Chapter 13 bankruptcy is to bring you current with respect to your secured debts, such as your home mortgage and your car loans. You remain in possession of your property. A repayment plan is developed, utilizing your disposable income to pay these debts and bring them current over a period of three to five years. Unsecured debts, like credit card debt, personal loans, and medical bills will also be paid through the plan, but generally at a reduced rate. When you have completed the plan and the court grants you a discharge, your remaining unsecured debts are discharged while you continue making regular payments to your secured creditors.

Saving Your Home and Car
Chapter 13 bankruptcy is the preferred option to save your home from foreclosure. The aim of Chapter 13 is to help you catch up on payments, or arearages, owed to your secured creditors. Your secured creditors (house and car) take priority under a Chapter 13 bankruptcy plan. The goal is to bring these creditors current over a period of three to five years. Your unsecured creditors (credit card, personal loans, medical bills) do not have priority. Unsecured creditors may receive some payment over the course of the plan, but generally not enough to bring them current. Once you have completed your Chapter 13 bankruptcy plan, you continue to make regular payments to your secured creditors and your outstanding unsecured debts will be discharged. To learn more about how filing Chapter 13 bankruptcy can help you save your home, call us at 740-369-6812 or send us an email to schedule a consultation.

Discharge of Debts
Like Chapter 7, most unsecured debts, such as credit card debts, personal loans, and medical bills are also discharged through Chapter 13 bankruptcy. Other debts like alimony and child support, student loans, and recent taxes are generally not dischargeable and survive bankruptcy.

In order to file a Chapter 13 consolidation, you must have a current regular source of income, and your income must be great enough to meet your basic needs as well as pay the Chapter 13 plan payment. Contact us at 740-369-6812 or by email to schedule a consultation so we may help you identify the appropriate chapter of the Bankruptcy Code to file under.

 

James Jeffrey Jackson
Ohio Bankruptcy Attorney
103 North Union Street, Suite B
Delaware, Ohio 43015
Phone 740-369-6812 Fax 740-369-1292

Serving the Counties of: Delaware ● Franklin ● Union ● Morrow ● Logan ● Knox ● Madison

Communities of: Bellefontaine ● Columbus ● Dublin ● Delaware ● London ● Marysville ● Mount Gilead ● Mount Vernon ● Powell ● Westerville ● Worthington

We are a Debt Relief Agency. We help people file for relief under the Bankruptcy Code.

The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult a Bankruptcy attorney for advice regarding your individual situation.