Chapter 13 Filing Lawyer

Take Control of Your Financial Future With Chapter 13 Bankruptcy Protection

Chapter 13, reorganization bankruptcy, may be your only choice if you have the income to repay your debts after all of your reasonable and necessary living expenses are paid. Filing for Chapter 13 bankruptcy allows you to pay your debts in installments, many times interest-free, usually over a 3-5 year period. If you are behind on your mortgage and your home has not sold at a foreclosure sale, Chapter 13 can save your home and allow you to catch up on your mortgage payments.

In some circumstances, Chapter 13 also allows you to strip or remove your second mortgage, provided your house is worth less than you owe on the first mortgage. Many people who want to keep their property, such as a house or car, opt for Chapter 13.

Understanding When Chapter 13 Bankruptcy Makes Sense

Chapter 13 provides relief for individuals with regular income who need time to catch up on secured debts while maintaining ownership of valuable property. This bankruptcy option works when you need protection from:

• Foreclosure proceedings threatening your home
• Vehicle repossession actions
• Wage garnishments reducing your paycheck
• Tax debt requiring structured repayment
• Co-signed loans affecting family members

The three-to-five-year repayment structure allows you to address past-due amounts systematically while keeping current on ongoing obligations. Your ability to retain assets distinguishes this approach from other bankruptcy alternatives.

What Can You Keep When Filing for Bankruptcy

In most cases, you can keep everything! With either Chapter 7 or Chapter 13, the law allows you to keep certain in property exempt, such as:

• Homestead - Property you own and occupy, up to $75,000
• Insurance - Homeowners insurance proceeds up to $75,000, disability benefits, life insurance proceeds (if clause prohibits proceeds from being used to pay beneficiary's creditors)
• Pensions - Tax-exempt retirement accounts including 401(k)s, 403(b)s, SEP, and SIMPLE IRAs
• Personal property - Mobile homes up to $30,000, tangible personal property up to $10,000 in individual bankruptcy or up to $20,000 in joint bankruptcy
• Public benefits - Federal income tax refunds up to $5,000, state income tax refunds up to $5,000, social security, unemployment, workers' compensation, assistance to the disabled

This is not a comprehensive list. Other items may also be exempt. Schedule a consultation with Smith & Choudoir Law to learn more.

Advantages of Choosing Our Attorneys

When you partner with Smith & Choudoir Law for your bankruptcy filing needs, you gain access to a wealth of experience and client-focused services. Our firm offers:

• FREE initial consultations
• Virtual Zoom meetings for your convenience
• Direct attorney-client communication
• 60+ years of combined legal experience
• Membership in prestigious legal associations
• Locally and family-owned firm
• Flexible fee structures

Our commitment to personalized service and extensive bankruptcy law knowledge sets us apart. Contact Smith & Choudoir Law to experience the difference our dedicated team can make in your financial recovery journey.

Take Action Towards Financial Recovery

Financial stability is within reach, and Smith & Choudoir Law is here to help you achieve it. Our experienced bankruptcy attorneys are ready to provide the guidance and support you need to navigate the complexities of bankruptcy law. Whether you're considering Chapter 7 or Chapter 13 bankruptcy, our team will work diligently to create a personalized strategy that addresses your unique financial situation. Don't let debt control your life any longer – take the first step towards financial freedom by requesting a FREE consultation with Smith & Choudoir Law today.

The content of this page is not intended to be a source of legal advice. You should not rely on the intonation provided herein as legal advice for any purpose. You should consult an attorney for individual advice concerning your own situation. FREE BACKGROUND INFORMATION AVAILABLE UPON REQUEST.

We are a debt relief agency. We assist individuals and businesses to seek relief under the U.S. Bankruptcy Code.