The Basics Of Chapter 13 Bankruptcy

Chapter 13 and Chapter 7 bankruptcy are similar. They both provide certain common benefits, including the ability to:

  • Immediately stop wage garnishment
  • End harassing calls and letters from creditors
  • Halt foreclosure actions and debt-related judgments

However, although the means test is used in Chapter 13, Chapter 13 does not require you to pass the test. No matter how much money you make or how much property you have, you can file for Chapter 13.

I am Roanoke, Virginia, attorney Wilson C. Pasley, and I will guide you through the process with understanding and skill. My goal is the same as yours: to help you overcome your debt and start again, free from financial fears. From day one until the end of your case, I will provide the personal attention and counsel you need to succeed.

Creating a Structured Repayment Plan

Chapter 13 bankruptcy allows you to create a structured debt repayment plan that lasts three to five years. During this time, you will repay unsecured, nonpriority creditors as much as possible. After you have completed the plan, most remaining unsecured, nonpriority debt will be discharged.

Creating this type of repayment plan is particularly useful if you want to save your home from foreclosure. It can allow you to catch up with past-due mortgage payments. It can also be very useful for avoiding car repossession.

Is This Type Of Bankruptcy Right For You?

Without consulting a knowledgeable lawyer, you may never fully understand your options for getting out of debt. I encourage you to schedule a consultation with me today to discuss the possibilities. If Chapter 13 is right for you, I can help you get started right away. If not, I can talk with you about other options.

Call Wilson C. Pasley, PLC, in Roanoke at 540-627-5026 or contact me online.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.