If you’re considering filing for bankruptcy, our Mesquite, TX Chapter 13 bankruptcy lawyer at Leinart Law Firm can provide the guidance you need. With over 15 years of experience, we have a deep understanding of bankruptcy law and have successfully assisted countless clients in restructuring their debts. Whether you’re overwhelmed by credit card bills, medical expenses, or unpaid loans, we’re dedicated to helping you regain control of your finances. Contact us today to schedule a consultation and learn about your options.
Chapter 13 Bankruptcy Vs. Chapter 7 Bankruptcy
Chapter 13 bankruptcy is a type of debt relief designed for individuals with a regular income who are unable to repay their debts in full. Under Chapter 13, the debtor creates a repayment plan that lasts three to five years, during which they make monthly payments to a bankruptcy trustee. This plan is designed to help individuals catch up on missed payments and reorganize their debts in a manageable way.
When filing for Chapter 13, debt relief lawyers will assess your financial situation and help you create a repayment plan that is tailored to your unique needs. Unlike Chapter 7 bankruptcy, which involves liquidating assets to pay off debts, Chapter 13 allows individuals to keep their property while still addressing their debt obligations.
This form of bankruptcy can help you manage your debt in a structured manner. With the help of our Mesquite Chapter 13 bankruptcy lawyer, you can create a repayment plan that fits your income and expenses. This repayment plan may include reduced monthly payments or extended timelines for repayment, making it easier to manage your debt over time.
Benefits Of Filing For Chapter 13 Bankruptcy
Filing for Chapter 13 bankruptcy has numerous benefits, especially for those who want to save their home or other important assets. When you file for Chapter 13, an automatic stay goes into effect, stopping creditors from garnishing wages, harassing you, or pursuing foreclosure. This immediate relief allows you to catch up on overdue payments and reorganize your debts in a way that is financially feasible.
In many cases, Chapter 13 can also reduce the amount of debt you owe. This is especially true for unsecured debts like credit card balances, medical bills, and personal loans. Our Mesquite Chapter 13 bankruptcy attorneys can help you determine how much debt can be discharged, which may significantly reduce your financial burden.
Our insolvency lawyers will help you prepare the necessary documents for your bankruptcy filing, communicate with creditors, and make sure your repayment plan is fair and achievable. With our knowledge and experience, we can help you achieve a fresh financial start.
Let’s Work Toward Financial Freedom
If you’re struggling with debt and need help finding a solution, our financial restructuring lawyers at Leinart Law Firm can provide the support you need. We understand that every financial situation is unique, and we are committed to working with you to create a plan that will help you regain control over your finances. Contact us today to schedule a free consultation with one of our trusted advisors.
