Illinois Debt Repayment Plan Lawyers
Chapter 13 bankruptcy is a reorganization of your debt. When you file for Chapter 13, an automatic stay goes into place that stops all actions that creditors may be taking against you. In other words, you can stop foreclosure, stop repossession, stop wage garnishment and stop creditor harassment, all at the same time. The Law Offices of Debra V. Levine can help.
Our law firm has been helping people get a fresh start since 1996. We have helped thousands of people, and our 95 percent success rate means you can be confident that we can help you, too.
How Does Chapter 13 Bankruptcy Work?
If we review your situation and determine that Chapter 13 is right for you, we will work with you to analyze your debt and income and create a repayment plan. Your plan will be designed specifically for you, meaning it will work with your income.
To review your situation, we will need to take a comprehensive look at your financial situation. We will ask you to gather documents regarding income, assets and debt. This includes four years' worth of tax returns, six months' worth of pay stubs and more. We will tell you what you need and if there is anything missing, we will help you get it.
If, after reviewing your situation, we determine that Chapter 13 doesn't make sense for you, we may guide you toward Chapter 7 or Chapter 11. We may even encourage an alternative to bankruptcy. One way or another, we will help you overcome your debt.
What Are the Other Benefits of Chapter 13?
Chapter 13 bankruptcy comes with many benefits:
- You can pay back 10 percent or less to your unsecured creditors (credit cards, medical bills), while still keeping your house and car.
- You can take up to 60 months to catch up on your mortgage arrears and pay back your other debts as part of the repayment plan.
- You can refinance your house or even sell it if you want.
- You may be able to reduce your monthly car payments and pay back less than you owe if your car is more than 2 1/2 years old.
- You have to make only one monthly payment to the bankruptcy trustee, instead of individual payments to all your creditors, except the mortgage in some cases.
- Attorney fees can be included in your monthly payment.
Contact Us for a Free Consultation
If you are ready to learn more about how our Chicago Chapter 13 bankruptcy attorneys can help you get a fresh start, and how our reasonable fees mean we can do it without adding to your financial burden, call us at 866-832-0854 or send us an e-mail.
We are available by phone 24/7. In addition to standard business hours, we offer evening and weekend meetings by appointment. Se habla español.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
