Chapter 13 Bankruptcy
Chapter 13 Bankruptcy: Reorganize and Restart Your Financial Life
Just as there are different tools for different tasks, there are different types of bankruptcy filings for different types of debtors. For many Virginians, Chapter 7 provides the most effective method for discharging debts and starting over. For those who don’t qualify for Chapter 7, Chapter 13 may be the answer.
At Ferris Law, we look to help clients understand their options and the protections bankruptcy has to offer. With over 30 years of legal experience, we provide the information and representation you need to confidently make decisions that will help you get out of debt.
Reorganization May Be the Best Strategy for Getting Out of Debt
Often referred to as debt reorganization, in a Chapter 13 petition, the court does not take any of your property, but rather allows you to propose a plan to your creditors that levels the playing field and lets you design a comprehensive repayment plan.
Just as in Chapter 7, Chapter 13 bankruptcy provides powerful remedies to overcome a variety of financial hardships. Garnishments, creditor harassment and foreclosures can be stopped through the automatic stay and we can often spread out past due amounts for up to 60 months — no matter what the creditor says.
In most cases, a Chapter 13 filing takes three to five years to complete. At the end of your repayment plan, existing unsecured debts may be discharged. Although debts like student loans and past-due child support will remain, your reorganization efforts can account for these debts and help you get current.
Call today and talk to a Bankruptcy Lawyer Richmond.
We Can Help You Create an Intelligent Debt Repayment Plan
To learn more about the benefits bankruptcy has to offer, reach out to us at Ferris Law. We work with clients in the Richmond Metropolitan area.
COSTS
Chapter 13 Bankruptcy Costs in Virginia
$750.00 down. If you do not qualify for a Chapter 7, a Chapter 13 can provide a structured repayment schedule that helps you pay off your debt over 3-5 years.
Legal insurance plans accepted.
Call Ferris Law at (804) 767-1800 or email us by completing our contact form.
We’re glad to set up a free consultation to answer your questions and make sure you qualify. Call today we are a Bankruptcy Lawyer Richmond VA.