Create a Repayment Plan That Suits Your Needs
Experienced Chapter 13 Bankruptcy Protection in New Jersey
While Chapter 7 bankruptcy can be helpful for many individuals facing debt, sometimes an alternative option is necessary for people who need a solution for their financial problems. In a Chapter 13 bankruptcy, a payment plan is drafted based on your income and your expenses when debts such as mortgage arrears or taxes or even auto payments must be repaid. Chapter 13 bankruptcies offer many substantial benefits and have helped many individuals out from under the burden of debt.
At the law firm of Brenner, Brenner & Spiller, we can help you decide if a Chapter 13 bankruptcy is the right option for your situation. If it is, we will provide the counsel and representation necessary to guide you through the process in an experienced and effective manner. Southern New Jersey bankruptcy attorneys Brad Spiller and Janet Sozio and the rest of our firm are dedicated to helping our clients find a fresh financial start through Chapter 7 and Chapter 13 bankruptcies.
Contact us today to set up an appointment for a free initial consultation.
Benefits of Chapter 13 Bankruptcy
Both forms of bankruptcy can be excellent options in the right situation. In certain situations, however, Chapter 13 bankruptcy has many substantial benefits compared to a Chapter 7 bankruptcy. These include:
- Chapter 13 bankruptcy can stop foreclosure proceedings and allow you to keep your home.
- Chapter 13 bankruptcy allows you to make a five year repayment plan and reorganize your debt, including credit card bills, medical bills, income taxes and more when necessary.
- After your five year payment plan is over, the debt you owe to your creditors is discharged.
- If you don't qualify for Chapter 7 bankruptcy through the means test, you may still qualify for Chapter 13 bankruptcy.
- Lien stripping during Chapter 13 bankruptcy may allow you to "strip off" a second or third mortgage or "cram down" an unreasonable car loan.
It is important to be fully prepared for your bankruptcy before you file. Gathering income statements, copies of credit card statements, other bills, and important financial documents right away will help save you time in the future.
Visit our Chapter 13 Information Center for more information about Chapter 13 bankruptcy.
Contact Brenner, Brenner & Spiller
If you believe that Chapter 13 bankruptcy and debt reorganization may be right for your situation, contact a Southern New Jersey bankruptcy lawyer at the law firm of Brenner, Brenner & Spiller today. We offer a free initial consultation to every prospective client. Call us at 856-963-5000.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
