Chapter 13 Bankruptcy Process

A Chapter 13 Repayment Plan Can Be the Road to Financial Security

When Chapter 7 Bankruptcy is not the best option, do not give up hope. Chapter 13 Bankruptcy can provide the same relief from debt, creditor harassment and stress.

At the Law Office of Benjamin J. Ginter, I have more than a decade of experience helping people who are struggling with debt in New Jersey. When your financial situation becomes overwhelming, I will help you understand your options and decide if Chapter 13 Bankruptcy can give you the fresh start you need.

Benefits of Chapter 13 Bankruptcy

The Chapter 13 Bankruptcy process is slightly different from Chapter 7. Filing for Chapter 13 involves creating a plan to pay back a portion of your debts. There are many advantages to filing Chapter 13 instead of trying to manage the debt on your own:

  • All of your debts will be handled with one payment plan. You will not have to make decisions about who to pay this month or which bills to leave unpaid.
  • Debt that is part of a Chapter 13 plan does not accrue interest or penalties during the repayment plan, which can last between three and five years.
  • With the help of an experienced bankruptcy lawyer, you can structure the repayment plan to fit your unique situation.
  • Secured debt such as a home mortgage can be included in the repayment plan to protect your property and allow you to catch up on payments.

There are many reasons to file for Chapter 13 Bankruptcy. Perhaps you have received a Chapter 7 Bankruptcy discharge within the past eight years. Maybe you have equity in your home that does not meet the Chapter 7 exemptions. It is possible that you do not pass the means test required to file for Chapter 7 Bankruptcy.

As your attorney, I will take the time to thoroughly assess your situation and help you decide if filing for Chapter 13 Bankruptcy is the best way to regain your financial footing. Together, we can create a solid plan that will make your life better.

Call 908-418-4084 or contact me online to schedule a free initial consultation at my Cranford office.