Considering Chapter 13 Bankruptcy?
If you don't qualify for Chapter 7 bankruptcy, have a regular income that allows you to pay a portion of your debt, and have property that you wish to keep, you may want to consider filing for Chapter 13 bankruptcy.
The Law Office of Kathryn L. Johnson, PLC in Tucson, Arizona, can explain the benefits and risks of Chapter 13 bankruptcy protection that pertain to your unique situation — whether you are in Arizona or California.
What Is Chapter 13 Bankruptcy?
Chapter 13 is a debt repayment plan. You, the debtor, turn over a specific portion of your future earnings to a trustee, who then distributes the funds to creditors according to a payment plan approved by the court. Once the plan is completed, you receive a discharge of certain dischargeable debts.
The plan payment amount is determined on numerous factors including your disposable income, reasonably and necessary monthly living expenses and the total amount of debt you have. You can generally keep most of your assets (other than luxury items). The plan period typically lasts between 36 months and 60 months.
An Experienced Bankruptcy Attorney Can Help
You should not let your fear of bankruptcy stop you from talking to an experienced attorney about your options. Kathy Johnson will advise you on the decision whether to file, attend the creditors' meeting with you, and obtain confirmation of the repayment plan. She will continue to represent you throughout your plan period until discharge.
As an attorney who is not only an experienced bankruptcy lawyer, but also an Arizona and California real estate broker and mortgage broker, Kathy Johnson knows the importance of protecting your home from foreclosure. She can also work with you and your lender to determine ways to deal with overdue mortgage payments, including home loan modifications if bankruptcy is not an option for you.
Schedule a Free Consultation Today
No matter your financial situation, you should sit down with Kathy Johnson to learn more about your legal options. To find out more, contact or call her today at 520-743-2257 or 888-326-7304.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
