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CHAPTER 13

Chapter 13 bankruptcy is a reorganization as opposed to a liquidation. Under a Chapter 13 bankruptcy, the debtor proposes a payment plan of 3 to 5 years.- The payment is generally based on your ability to pay and what you can afford under your circumstances. Thus, a plan may propose to pay 0% to 100% of your unsecured debt depending on your budget.
Chapter 13 can also:
  • Stop a pending foreclosure on your Home and use the 3-5 year plan to catch up your mortgage and/or negotiate a mortgage modification;
  • Keep and payoff car loans and adjust to reasonable interest rates and possibly reduce the amount to payoff the car loan based on the value of the car;
  • Stop IRS and state tax collection and pay priority tax debt while eliminating older tax debt;
  • Get out of expensive and unaffordable debt consolidation contracts;
  • Keep your valuable non-exempt assets that would otherwise be liquidated in a Chapter 7
If you’re facing foreclosure but want to stay in your home, Chapter 13 immediately stops the foreclosure process, and allows you to pay off mortgage arrears over time.
Chapter 13 is far more complex than Chapter 7, so it’s essential to have competent legal representation when filing. If Chapter 13 makes the best sense for your circumstances, we’ll help you file for bankruptcy and represent you along the journey. Our fees for Chapter 13 can be deferred to your Chapter 13 plan, thus there may be no attorney’s fees required to get your Chapter 13 filed.

PAYMENT PLANS AVAILABLE

Chapter 13 Bankruptcy

Once you file for bankruptcy, the law requires ALL creditors to leave you alone. That means harassing collections calls and endless messages CEASE upon notification of your filing, or they’ll suffer the consequences. Trust us, creditors don’t want to pay that fine.
Filing Chapter 13:
  • STOPS foreclosure
  • STOPS wage garnishments
  • STOPS creditor harassments

Consistent & Effective Representation From Filing to Discharge

Your AZEROS lawyer is the only person handling your case, so you’ll get consistent and effective legal advice and representation from filing to discharge, plus a clean slate for your finances. We’re here to help you get there.
Find more details about the services provided during the bankruptcy process here.

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The Chapter 13 Process

If Chapter 13 is the best option for you, we’ll help you create a payment plan allocating disposable income to make a monthly consolidated payment to creditors through your assigned Trustee over a 3-5 year term. Disposable income is the amount left over after subtracting all your allowed expenses from your net earnings. Some expenses are determined by your actual out-of-pocket costs; others will be set by national local standards as calculated by the IRS.

In general, the less disposable income you have, the lower the percentage of unsecured debts you pay back to creditors throughout the life of your Chapter 13 plan. At the end of the process, debts that remain outstanding are discharged.

AZEROS Legal is a debt relief agency. We help individuals (and businesses) file for bankruptcy relief under the Bankruptcy Code.

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