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Understand Your Options
Learn More About Chapter 13 Bankruptcy
Foreclosures are on the rise as many families struggle to keep up with
payments as a result of layoffs, cutbacks or catastrophic medical expenses.
You may be wondering how you will possibly make all your monthly payments
and save your home. The protections and reorganizations of Chapter 13
Bankruptcy may be the right option for you. If you are considering Chapter
13 Bankruptcy or want to learn more about your financial options, retain
the immediate representation of
Bacchus Law Group, LLC!
Get the financial guidance you deserve!
Contact Our Chapter 13 Attorney Today
To find out more about
bankruptcy, we recommend that you speak with an experienced bankruptcy attorney.
At Bacchus Law Group, LLC we inform our clients that bankruptcy is not
something to be ashamed of. Chapter 13 Bankruptcy lets you reorganize
your debts in payments over three to five years. Depending on your past
and present income as well as your projected living expenses, it may be
that you receive a full discharge of liability on your unsecured debts.
After evaluating your income and expenses your attorney will determine
to what extent you must pay back certain creditors.
Qualifying for Chapter 13 Bankruptcy
Prior to filing Chapter 13 Bankruptcy (also known as a debt repayment plan),
it is essential that you meet with an experienced bankruptcy lawyer to
understand all the benefits of this debt relief option. Chapter 13 is
not about qualifying, it is about proving feasibility. You must show the
Court that you have enough disposable income after living expenses, to
support a repayment plan.
Are You Ready To Get Started?
Get A Free Bankruptcy Consultation Today
If your income is lower than the median, you may propose a three year repayment
plan. If your income is higher than the median, you may propose a five
year repayment plan. If you lose your job halfway through the payment
plan, you may request a modification.
Qualifying Debt Limits
You will not qualify for Chapter 13 Bankruptcy if secured debts such as
your mortgage, exceeds $1,010,650, or unsecured debts such as money owed
on credit cards, exceeds $336,900. If you decide to move forward with
Chapter 13 Bankruptcy, you must complete required
credit counseling education to meet bankruptcy requirements. Enter attorney code RL4789 to have a
certificate of completion sent to our office prior to filing.
Securing an Automatic Stay
When you file for Chapter 13 Bankruptcy, the court will order an automatic
stay. That means that your creditors may not contact you at work or at
home to collect unpaid debts. If your home is in foreclosure, it may not
be sold, and creditors may not garnish your wages. The stay remains in
force throughout the three to five years of the payment plan.
The Bacchus Law Group, LLC prides itself on client communication. As such,
our attorneys keep clients informed every step of the way. We will do everything within
our power to help you move forward with your bankruptcy proceedings with
confidence. In order to do so, we will address each of your concerns and
answer each of your questions. Additionally, we will completely educate
you about the laws surrounding bankruptcy so that you are more enabled
to make sound and informed decisions.
Contact the firm to schedule a free telephone consultation about your Chapter 13 or
Chapter 7 Bankruptcy concerns with a qualified lawyer.
We proudly represent clients throughout Metairie, St. Tammany Parish, Covington,
Mandeville, Slidell, LaPlace.