Reorganizing Debt Through Chapter 13 Bankruptcy

What would your life be like without the crushing burden of credit card debt? For many people, juggling the high interest rates, fees, and penalties that come with credit card debt is the single largest threat to their financial well-being. Credit card companies know that most people will never be able to dig themselves out from under the heavy burden of ‘low monthly payments’ that take as long as 20 years to repay. No matter how hard you try, the deck is stacked against you. The U.S. bankruptcy code gives you the second chance you need and deserve with the option of filing for personal bankruptcy.

If you do not qualify for a Chapter 7 bankruptcy, Chapter 13 may be your best option to restructure your debts into a court-approved repayment plan. A Chapter 13 bankruptcy proceeding is a process by which your assets, income, expenses and debts are calculated and prioritized to create one monthly payment plan through the bankruptcy court. It is an excellent solution for people who do not qualify for Chapter 7 bankruptcy, or who are able to meet their debt obligations but need some breathing room because of cash flow or an unexpected short-term debt obligation.

You can eliminate some debt, lower your interest rates on other debts, and even remove second mortgages and judgment liens against your house when you commit to a court-supervised monthly repayment plan. At Ugell Law Firm, P.C., we will work to eliminate as much debt as possible, reduce interest rates, and restructure your payments. At the successful conclusion of your Chapter 13 repayment plan, the remaining credit card debt will be eliminated. Call our firm today at 845-608-8098 to discuss whether Chapter 13 is right for you.

Get Your Chapter 13 Done Right The First Time

Chapter 13 involves a judge, the courts, a trustee, and your creditors. There are serious legal problems that can result if you are less than honest and forthcoming about the extent of your debt or assets. Under Chapter 13, you will most likely be able to:

  • Keep your house and car
  • Strip off a second mortgage or judgment lien against your home
  • Modify your mortgage loan(s)
  • Consolidate your student loans into an affordable repayment plan
  • Eliminate your credit card debt
  • Stop bill collectors’ calls immediately
  • Repay or eliminate your tax debt
  • Stop pending wage garnishments and lien actions, excluding court-ordered domestic support obligations such as child support or maintenance

Your Chapter 13 restructuring plan will generally be approved within three to six months, with the length of supervised plan stretching over three or five years.

Have You Already Filed For Chapter 13 Bankruptcy On Your Own?

Some people feel they know how to file for personal bankruptcy without an attorney. However, if your case is currently active, I strongly encourage you to contact our office immediately. The bankruptcy process is extremely complex, and your financial situation could be made far worse by an unsuccessful bankruptcy proceeding.

If your Chapter 13 trustee is objecting to your discharge, or if you are currently facing dismissal — removal from bankruptcy court with no debt relief — you are at serious risk of your bankruptcy petition being denied and dismissed. Please email our office in New City, New York, or call us at 845-608-8098 to have an experienced Chapter 13 lawyer help you today. Se Habla Español.

We are a debt relief agency. We help people file for bankruptcy relief under the United States Bankruptcy Code.