Southampton Chapter 13 Bankruptcy - Debt Repayment Plan
While a Chapter 7 bankruptcy eliminates dischargeable debts, a Chapter 13 bankruptcy results in a payment plan to resolve all of your financial issues with an affordable monthly payment. For many people with a steady income, Chapter 13 bankruptcy offers a debt relief option that reduces debt payments and allows them to take back control of their finances.
If you are overwhelmed by debt and need financial help, a Chapter 13 bankruptcy may be right for you. To schedule a free consultation with an experienced Bucks County Chapter 13 bankruptcy lawyer, call the Law Offices of Michael S. Schwartz at (215) 375-7346.
We have office locations in Southampton, Havertown and Perkasie, Pennsylvania, to serve you.
Our Southampton, Pennsylvania, Attorney Will Create a Payment Plan to Protect Your Home From a Home Foreclosure Action
If your home mortgage lender is threatening or has initiated a home foreclosure action, we can discuss the best way to handle your situation. If you are trying to protect your home, a Chapter 13 bankruptcy may be a better solution than a Chapter 7 bankruptcy. Filing a Chapter 13 bankruptcy often reduces your monthly payments enough so you can afford your mortgage and any back payments.
Resolve Tax Liabilities and Credit Card Debt
Besides curing arrears on your mortgage or car loan, a Chapter 13 bankruptcy will allow you to resolve your tax liabilities and credit card debt through the reorganization plan. Depending upon your particular financial status (i.e., assets, family size, disposable income), we may be able to resolve unsecured debts at pennies on the dollar. Your new payment plan, if approved by the court, will allow you to pay your debts more gradually, and will give you a chance to get back on your feet.
You will be required to begin making payments to cure arrears on your loan(s) to the Chapter 13 bankruptcy trustee 30 days after the bankruptcy filing and every month thereafter during the repayment plan. You are also required to make your next mortgage payment after the bankruptcy filing, even if you do not receive an invoice from your lender.
Other Benefits of a Chapter 13 Bankruptcy
In addition to home foreclosure protection and the establishment of a workable payment plan that saves people money, a Chapter 13 bankruptcy may be able to stop:
- Harassment by creditors
- Wage garnishments
- Car repossessions
- Forced sales of assets or real property
Contact Our Law Firm to Discuss Debt Repayment. We Serve Perkasie, Southampton and Havertown.
Helping people is our goal. We always put our clients' interests first. We take great pleasure in helping people escape the stress and worry of overbearing debt. If you need help, call us at (215) 375-7346, or contact us by e-mail to speak with a Southampton, Pennsylvania, lawyer about creating a payment plan to protect against foreclosure.
Bucks County Office
707 Lakeside Office Park
Street and Stump Roads
Southampton, PA 19053
Havertown Office
101 East Darby Road
Havertown, PA 19083
Perkasie Office
101 North 5th Street
Perkasie, PA 18944
