Chapter 13 Bankruptcy
The Dietrich Law Firm in Lansing and Owosso, Michigan can help reorganize your debt to make it affordable
You fell behind in your mortgage payments and you cannot keep up with all your credit card payments despite the fact that you have a steady income. You considered filing for bankruptcy, but you know a Chapter 7 bankruptcy is not right for you because—
- You are not that much behind. You just need more time than your creditors are giving you and you are being threatened with repossession and/or foreclosure.
- You are behind in your taxes, child support payments, or student loans and Chapter 7 bankruptcy does not address those debts.
- You feel a moral obligation to pay back your creditors so you do not want to have your debts discharged in a Chapter 7 bankruptcy.
As long as you have a stable income, a Chapter 13 bankruptcy may be your solution.
How a reorganization bankruptcy could help you
A chapter 13 bankruptcy, known as reorganization, allows you to repay part or all of your debt over a three to five-year period (depending on your income). Your debts are restructured into a single payment that you make to a court appointed trustee, who in turn makes court-approved payments to your creditors. And so long as you make the required payment each month, your car cannot be repossessed and your home cannot be subject to foreclosure.
Find out what is best for you
Determine whether a Chapter 13 bankruptcy is right for you. Speak to a Dietrich Law Firm bankruptcy attorney. We have offices in both Lansing and Owosso, Michigan, and your initial consultation is free.
Call us today toll-free at 877.337.1136 or click here to contact us online to discuss your bankruptcy issue in the Greater Lansing area.
