Helping Individuals Make A Financial Plan Using Chapter 13 Bankruptcy
One major misconception is that in a Chapter 13 bankruptcy, you are required to pay off all your debts in installments over a period of three to five years under a court-approved repayment plan. The payment plan is approved by the court and does last for three to five years. However, the amount of the payment will vary depending upon your assets and your income. Whether you filed individually or jointly with your spouse, Chapter 13 bankruptcy gives you a fresh financial start oftentimes without forcing you to liquidate a vast majority of your property.
In a process that resembles loan consolidation, you make payments to a trustee who distributes the money to your creditors. This allows you to avoid further direct contact with your creditors. Once you have filed for bankruptcy, your creditors must immediately stop collections efforts, including harassing letters and phone calls.
If you’re facing considerable debt and wish to learn more about your bankruptcy options, turn to the experienced bankruptcy lawyers at Janvier Law Firm, PLLC, in Raleigh, North Carolina. We will use our experience, acumen and prowess to assess your situation, determine the best option for you and walk you through the process of setting your financial future up for success.
Highly skilled. Highly recognized. In addition to their more than 30 years of combined experience, attorneys William P. Janvier and William E. Brewer, Jr., are highly accredited, both earning top distinctions through Martindale-Hubbell, including AV and AV Preeminent ratings,* respectively.
Avoiding Home Foreclosure Through Bankruptcy
One of the many advantages of filing for Chapter 13 is that you can save your home from foreclosure. As soon as you file your Chapter 13 petition, an automatic stay stops foreclosure from progressing, giving you the opportunity to cure delinquent mortgage payments over a repayment period. It is best that you consult with us as soon as you know that a foreclosure has or will be filed. By doing so, we can take the appropriate action to delay the foreclosure and put you in a position to file a successful Chapter 13. However, we are usually able to file cases on short notice when necessary. To stop a foreclosure sale, the bankruptcy must be filed within 10 days of the foreclosure sale.
Chapter 13 includes development of a plan that includes a reasonable schedule for bringing your past-due payments current, allowing you to keep your home.
We have extensive experience and knowledge with foreclosure matters that we can put to use to protect North Carolina homeowners during the bankruptcy process.
Concerned about repossession or foreclosure? Chapter 13 can be a good option for those who can’t afford to lose their vehicle in repossession or liquidation, or for those who want to keep their home instead of foreclosing on it.
Lowering Debt Payments And Protecting Co-Debtors
In addition to restructuring your secured debts so that you can pay them over a longer period, often in lower payment amounts, it may be possible to protect co-signers of certain loans so as to avoid putting business partners and family members at risk of loss from your Chapter 13 bankruptcy. See Overview of Bankruptcy for a more thorough discussion of Chapter 13.
We can do a complete analysis of your financial situation to develop strategies and identify your best filing options, which might include Chapter 7 bankruptcy instead.
Get Help From Knowledgeable Attorneys
Helping people obtain relief from debt is the main mission here at Janvier Law Firm, PLLC. Every day, we use compassion and professionalism to determine the best course of action for our clients. We then use our tenacity to get bankruptcy matters resolved as quickly as the law will allow.
If you have questions about the bankruptcy process or would like us to help you take the first steps to living debt free, we encourage you to check out either of our FAQ pages or contact our Raleigh office. Call Janvier Law Firm, PLLC, at 919-301-0628 or contact us online to schedule a consultation.
*AV®, AV Preeminent®, Martindale-Hubbell Distinguished and Martindale-Hubbell Notable are certification marks used under license in accordance with the Martindale-Hubbell certification procedures, standards and policies. Martindale-Hubbell® is the facilitator of a peer review rating process. Ratings reflect the anonymous opinions of members of the bar and the judiciary. Martindale-Hubbell® Peer Review Rating™ fall into two categories – legal ability and general ethical standards.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.