In a Chapter 13 bankruptcy, you will be paying some of your debt, but under more favorable conditions by making a realistic plan for reorganizing your debt. A repayment plan is set up for three to five years.
When you come to Adam Schneider for your free consultation, he will discuss the details of your financial situation. He will use a formula called a means test to find out whether you are eligible for Chapter 7 or Chapter 13, or whether bankruptcy is the best solution for you. For example, if you are behind on your mortgage, a Chapter 13 can give you up to five years to catch up.
After filing for a Chapter 13 bankruptcy, your creditors must stop calling you. Your wages can no longer be garnished. You will be required to go for credit counseling, which will teach you strategies for smart spending and saving. You will be assigned a trustee, who will collect the agreed-upon payments from you to pay your creditors.
It's time for a fresh start. Call Adam Schneider today to take that first step.