Stop Foreclosure. End the Harassment. Breathe Free Again.
Debt Repayment and Creditor Relief Through Chapter 13 Bankruptcy
Money is coming in, but too many creditors want a piece of it. You have started paying bills late or skipping payments, and there is nothing left over for extras or emergencies.
If you are facing home foreclosure and/or getting farther into debt each month with no hope of catching up, Chapter 13 bankruptcy may be the solution to get back on track financially:
- It doesn't eliminate your debts, but it lets you pay them back over time without interest or penalties.
- It stops foreclosure and repossession.
- You may be able to get rid of a second mortgage.
- You will be put on a budget that will allow you to pay the bills, pay for basic needs and keep all of your property instead of feeling the burden of making the decision each month about which bills to pay and which to skip.
Bankruptcy Attorney for Alexandria, Fairfax and Northern Virginia
I have helped many people save their homes and get relief from creditors and debt. Contact me today to discuss debt solutions during a free initial consultation.
Chapter 13 Bankruptcy
You may need to file for Chapter 13 bankruptcy if you don't qualify for Chapter 7 or if you are behind on your mortgage and facing foreclosure. Also, a Chapter 13 bankruptcy is preferable to a Chapter 7 if you have a lot of certain types of debt that are not dischargeable, as you will have the opportunity to pay those debts without accruing additional interest or penalties during the plan.
In a Chapter 13 debt repayment plan, you make a set monthly payment based on your ability to pay. The plan will require you to make payments between 36 months (three years) and 60 months (five years), depending on your income and other factors. After you make all the payments, any remaining eligible debt is discharged.
You do not forfeit any property in a Chapter 13, as long as you continue to make payments. Filing for bankruptcy stops foreclosure, repossession and all collection actions, including constant creditor harassment. Mortgage arrears or past due car payments are rolled into your repayment plan. If your first mortgage exceeds the current value of the house, it may be possible to strip a second or third mortgage.
My name is Nathan D. Baney, a solo lawyer practicing chiefly in bankruptcy. In a free consultation, I will analyze your financial picture and help you decide if Chapter 13 bankruptcy is your best move. Call me at 703-684-2000 to arrange a convenient time to meet.
Under the current Bankruptcy Code, I am classified as a debt relief agency. I help people file for bankruptcy relief under the Bankruptcy Code.
