Chapter 13 Bankruptcy

Chapter 13 is a wage-earner repayment plan. It is a federal law designed to help individuals and married couples repay all or a portion of their debts with dignity and peace of mind.

Our firm has the experience to work closely with you to develop a plan for the repayment of debts, present it for creditor approval and have it confirmed by the bankruptcy court. The process of creating the plan, getting it approved by creditors and the Chapter 13Chapter 13: The chapter of the Bankruptcy Code providing for adjustment of debts of an individual with regular income. Chapter 13 allows a debtor to keep property and pay debts over time, usually three or five years. TrusteeTrustee: An officer of the Justice Department who exercises statutory powers, principally for the benefit of the unsecured creditors, under the general supervision of the court. The trustee is a private individual or corporation appointed in all Chapter 7 and Chapter 13 cases, and some Chapter 11 cases. The trustee’s responsibilities include reviewing the debtor’s petition and schedules and bringing actions against creditors or the debtor to recover property of the bankruptcy estate. In Chapter 7, the trustee liquidates property of the estate, and makes distributions to creditors. Trustees in Chapter 13 cases have similar duties to a Chapter 7 trustee and the additional responsibilities of overseeing the debtor’s plan, receiving payments from debtors, and disbursing plan payments to creditors. , and confirmed by the bankruptcy court takes about 3 months. Repayment plans typically last three 3 to 5 years. Upon successful completion of the plan, certain debts are dischargabledischarge: A release of a debtor from personal liability for certain dischargeable debts set forth in the Bankruptcy Code. A discharge releases a debtor from personal liability for certain debts known as dischargeable debts and prevents the creditors owed those debts from taking any action against the debtor to collect the debts. The discharge also prohibits creditors from communicating with the debtor regarding the debt, including telephone calls, letters, and personal contact.. A Chapter 13 bankruptcy filing may:

Roderick H. Martin & Associates are experts in bankruptcy law. Our two decades of experience ensure our clients have knowledgeable, skilled Chapter 13 bankruptcy representation. Please call at us 770.427.5853 to learn more about your options under Chapter 13.