Chapter 13 Bankruptcy Attorney
As bills pile up and the prospect of filing for bankruptcy begins to seem more likely, you may find yourself worried about what will happen to your most essential possessions, like your house or your car. Fortunately, if you have a steady income, you should be eligible to file for chapter 13 bankruptcy. If you need to file for bankruptcy, do not do it alone. One mistake made in filling out the paperwork could make the process more expensive and more time-consuming. Contact The Cummings Law Firm, P.A. in Charlotte, NC, today online or at (704) 376-2853 for a free initial consultation.
Important Information About Chapter 13 Bankruptcy
Unlike chapter 7 bankruptcy, when you file for chapter 13 bankruptcy your debts are not immediately wiped away. Instead, they are consolidated into one monthly payment, set at an amount the court determines you can afford, and you agree to make that payment for the next three to five years. If you make your payments on time, at the end of three to five years any debt that you still have not paid off may be discharged.
Because debts are consolidated, it's also called a reorganization bankruptcy. What's more, you get to keep all your assets. This is especially advantageous if you own a home, need your car to get to work, or are facing a small business bankruptcy.
Considering Taking the Next Step?
If you are considering bankruptcy, turn to The Cummings Law Firm, P.A. We can put our extensive experience and knowledge of the law toward helping you find financial freedom.
For a free initial consultation, call (704) 376-2853.