Chapter 13 — Providing A Chance To Catch Up And Save Your Home And Vehicle
If you have regular income but cannot afford to pay all your creditors, Chapter 13 bankruptcy puts foreclosure, repossessions, and debt collections on hold and provides the breathing room and allows you to pay only that portion of your unsecured debts you can afford over time. Most Chapter 13 cases do not pay all unsecured debt and some cases pay nothing to unsecured creditors. With some exceptions, those debts not paid in a Chapter 13 plan are discharged.
As the oldest bankruptcy law firm in Louisiana, we have literally helped thousands of individuals and families find relief from debt and from creditors. Simon, Fitzgerald, Cooke, Reed and Welch, offers a FREE consultation with no upfront attorney fees. (See Fees And Costs.)
Extensive Experience In Chapter 13 Bankruptcy
We will sit down with you to address your questions and fears, and explore all your debt solutions. Arrange a free consultation at one of our four convenient offices statewide:
Shreveport • Alexandria • Lafayette
The Many Advantages Of Chapter 13
In a Chapter 13 repayment plan your unsecured debts can, in most cases, be substantially reduced or eliminated. You get instant relief from creditor actions and gradually pay only that portion of your debts that you can afford. You will make a fixed monthly payment for a minimum of 36 months up to a maximum of 60 months, based primarily on your ability to pay. At the end of the plan, all remaining dischargeable debt is eliminated. You don’t forfeit any assets except for those you wish to surrender.
The majority of bankruptcy petitions in Louisiana are filed under Chapter 13. Chapter 13 offers both immediate and long-term relief and is generally considered a less harsh bankruptcy than a Chapter 7.
- Stop foreclosure and repossession — Your mortgage arrears or past due car payments can be rolled into your repayment plan. Vehicle payments can quite often be reduced.
- Prevent wage garnishment — Your take-home pay will not be seized by creditors.
- End the creditor harassment — No more annoying phone calls or threatening letters. The automatic stay prevents creditors from contacting you or taking any legal action against you to attempt to collect a debt.
- Restructure your vehicle and other secured loans except for home mortgage loans.
- Free yourself from the constant stress.
File For Chapter 13 — No Upfront Fees
In most cases, our legal fees are included in your Chapter 13 and are paid over time through your Chapter 13 Plan. If you cannot afford to pay the $310 court costs, the costs may be paid in installments with as little as $155 down.
Our lawyers are ready to help you save your home or get back on your financial feet. Call us at 888-341-8091 to set up your free initial consultation.