Chapter 13 Bankruptcy (Repayment Plan)
At Eskew Law LLC, an Indianapolis Chapter 13 bankruptcy lawyer can help you determine the bankruptcy route that is most appropriate for you given your debts, assets, and income level. Generally, Chapter 13 might be preferable in the following situations:
- You are behind on your mortgage and have significant home equity.
- You cannot qualify for Chapter 7 bankruptcy under the “means test.”
- You have significant assets that cannot be protected by an exemption.
- A majority of your unsecured obligations are priority unsecured debts.
- You are facing a foreclosure sale and are seriously delinquent on your mortgage.
Chapter 13 bankruptcy is commonly referred to as “repayment plan” bankruptcy because debtors repay a portion or all of their unsecured debts and arrearages on secured debts over a 36- or 60-month payment term. A distinguished Indianapolis bankruptcy lawyer will be able to discuss the specifics of your individual financial situation with you. If the repayment plan is completed, any outstanding balances on unsecured debts are discharged similar to Chapter 7. The debtor must consistently make the monthly trustee payment, which will include a portion of unsecured debts and secured debt arrearages, as well as current payments on secured debts as they come due.
Helping You Reclaim Your Financial Future
If you are overwhelmed by debt or in jeopardy of losing your home, Eskew Law LLC can evaluate your situation and help you select the most appropriate debt relief solution. Our Indianapolis Chapter 13 bankruptcy attorneys can prepare your documents and represent you at hearings before the U.S. Bankruptcy Trustee or a Bankruptcy Judge. Bankruptcy paperwork is complicated and mistakes can result in delays, loss of protection of the automatic stay, or dismissal of your bankruptcy.
Call to Schedule a Consultation with an Indianapolis Chapter 13 Bankruptcy Lawyer
Eskew Law LLC works with clients throughout Central Indiana. To schedule a consultation with an attorney to discuss your case, contact our office by phone at (317) 974-0177 or online. We offer flexible scheduling and payment options to meet your needs.