Chandler Chapter 13 Bankruptcy Lawyers
Chandler, Arizona Chapter 13 bankruptcy is often called “wage-earners” bankruptcy. In this type of bankruptcy, in a Chapter 13 bankruptcy case there is a reorganization of the debtor’s financial affairs which allows debtors with regular incomes to make affordable, often reduced, payments on their obligations. Such (chapter 13 plan payments) are made for a specified period of time, usually not less than 3 years and not more than 5 years.
The chapter 13 plan payments are made according to a bankruptcy court-confirmed (approved) plan. A person filing chapter 13 works with his bankruptcy attorney to establish a payment plan to repay all debts (or a small portion of all debts). Upon successful completion of the payment plan, the Arizona bankruptcy court will usually discharge the remaining debts.
Why Should You Choose a Chapter 13 Bankruptcy?
There are times when filing a Chandler chapter 13 bankruptcy is a better idea than the alternative as a chapter 13 bankruptcy offers additional protections not found in a chapter 7 bankruptcy. Chapter 13 is particularly attractive when facing the possibility of foreclosure or if a foreclosure is filed. An individual with back tax debt or other tax concerns may want to consider a chapter 13. A Chandler Chapter 13 bankruptcy may also be a good alternative if an individual has debts that can’t be discharged such as those incurred by fraud, child support, or others circumstances. Additionally, a Chapter 13 may be a good alternative when the debt owed to a secured creditor (i.e. on a vehicle), is much greater than the value of the collateral. Another great use of a Chapter 13 may also be to a sole proprietor who wishes to continue operation of a business without interference by the court or by creditors.
Who can file for Chandler Chapter 13 Bankruptcy in Chandler, Arizona?
Debtors in Chandler must meet certain minimum income requirements to be eligible to file for Chapter 13 bankruptcy protection. Individuals also must be below certain maximum debt thresholds to be eligible to file. Our Chandler bankruptcy lawyers will help you determine if you qualify to file for Chapter 13 bankruptcy protection in Chandler, Arizona.
Our attorneys are dedicated to helping you successfully navigate through your Chapter 13 Bankruptcy. Our lawyers will be with you and represent you throughout the entire Chandler chapter 13 bankruptcy process (even if that is 3-5 years). Contact us today for a FREE bankruptcy consultation. We offer: Same Day Appointments, Payment Plans for EVERY Budget, and have some of the lowest legal fees in Chandler, Maricopa County, and throughout Arizona.