Make sure you qualify before filing Chapter 13 bankruptcy

When financial crisis hits, it’s easy to feel overwhelmed and worried about your future. Especially if creditors are calling you every day and lenders in Louisiana are threatening to call in their loans, you may be facing the very real possibility of losing a vehicle or even your home. Chapter 13 bankruptcy is often a viable solution to serious financial problems.

If you think you may want to file a petition for Chapter 13, you’ll want to do some research ahead of time to make sure it’s the type of debt relief that best fits your particular needs at this time. You must satisfy eligibility requirements before processing an application. A less stressful means of research, rather than trying to do it all on your own, is to ask an experienced bankruptcy attorney to review your case.

If one of your biggest concerns is debt collection, repossession or foreclosure, Chapter 13 may be a good solution to your problems because it places all of these actions on hold. With this form of debt relief, you may be able to reduce or completely eliminate your unsecured debts. As opposed to other types of debt relief that involve asset liquidation, Chapter 13 is centered on court-approved payment plans to pay back debt while retaining ownership of your assets.

Attorneys Simon Fitzgerald LLC have successfully guided thousands of Louisiana residents through the Chapter 13 bankruptcy process. Because we understand how stressful financial difficulties can be, we offer free initial consultations to help lessen the burden. Our experienced legal team is fully committed to helping you determine your ability to pay back your lenders and lay the groundwork for restored financial stability down the line.