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Chapter 13 Bankruptcy:
Lower Your Monthly Payments.
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CHAPTER 13 BANKRUPTCY: Lower Your Monthly Payments
In a Chapter 13 bankruptcy, you are required to make monthly payments to a trustee for a period of 36 to 60 months.
The primary goal of a Chapter 13 bankruptcy is to consolidate your debts and set up a manageable monthly payment.
Chapter 13 is primarily designed to allow you to Stop Foreclosures and Repossessions, and allows you to make up the back payments in a 36 to 60 month plan. In a Chapter 13, we can also consolidate other bills, such as your car payment, whereby you only pay the value of the car, and not the loan balance.
Other debt that can be consolidated includes tax debts, student loans, and child support or alimony arrears.
Catch up on Your Mortgage and Car Loans
Chapter 13 bankruptcy allows you to catch up on your mortgage payments and car loans if you have fallen behind. This can help people who have temporarily lost their job or have had a family illness and now have the ability to resume making their mortgage and/or car loan payments.
for a Free Attorney ConsultationWashington State Chapter 13 Bankruptcy Laws