Repayment Plans for Chapter 13 Bankruptcy

Recently, more and more people with debt have been pushed into foreclosure modification and mediation away from bankruptcy – especially Chapter 13. However, Chapter 13 may address all kinds of debt and also give specific debt leniency that is not available from mortgage modification or other types of debt solutions.

Since 1983 Debt Repayment Lawyers From New Haven Have Been Serving Clients

Here at the Cornwell Law Firm, we give help people to understand how a Chapter 13 will address any debt problems they may have. Get in touch with a Gwinnett County bankruptcy attorney here at the Cornwell Law Firm to talk about your debt problem with a consultation for free.

Repayment Plans For Chapter 13

Chapter 13 halts foreclosures instantly, allowing for over-due house payments to be repaid over a 3-5 year period. This will allow you to continue your normal payments like nothing had happened. Your lender doesn’t need to approve. If your home value meets certain values, liens and secondary mortgages can be removed. This customized plan doesn’t need the approval of either your creditors or your bank.

Many Types of debt you can gain relief from with Chapter 13:

  • Reorganize and consolidate: Get relief from debts such as state and IRS taxes, sewer and water bills along with other liens.
  • Reduce or eliminate debt: Credit cards, medical, garnishments and judgements, repossessions and second mortgages – pretty much any kind of consumer debt.

Co-debtors can also find relief when you file for Chapter 13 bankruptcy. If anyone else signed on to any consumer debt, they, too, will be protected.

All types of foreclosures, garnishments and collections are put on hold. Including the IRS.

Chapter 13 Bankruptcy Protect YOUR interests

Chapter 13 has saved thousands of Georgia homes who have been previously turned away by banks and other programs. This isn’t a program that is voluntary that you have to wait months and go through numerous phone calls and letters to achieve. Rather, this is a court-enforced, immediate repayment plan that takes into account your capability to repay. This isn’t a handout to the banks, it’s a way to for people like you to get a hold of your financial future so you can protect your home and finances without needing approval of your lenders.

These repayment plans are carefully crafted by experienced attorneys that will send money in order of importance to the different parties – all through one, single payment address. Through the Chapter 13 payment plan, you’ll make just one payment monthly to a trustee who is court-appointed, working on your behalf by order of the government. This gives you protection to you instead of your creditors. It will put a stay on all debt collection and mandates that creditors deal directly with us as your counsel or the court-assigned trustee.

Get in Touch with the Cornwell Bankruptcy Law Firm Today

Put a stop creditor harassment, halt mortgage foreclosure along with putting to rest other debt-related issues. Please give us a call today. Our number is 404.791.4449 or you may use our contact form online to talk about any concerns or questions you may have with an experienced, professional Gwinnett County debt repayment lawyer.

We’re an agency that specializes in debt relief. We assist people with filing for relief that only bankruptcy can give them as per the Bankruptcy Code.