Columbia Bankruptcy Lawyer
Bringing Your Debts Under Control
Are your debt payments adding up to more than you can handle? Do you need time to catch up after falling behind? Are you looking for a way to consolidate your debts into a monthly payment that you can afford? If so, Chapter 13 bankruptcy may be right for you.
At The Law Offices of James Flexer — with offices in Nashville, Murfreesboro and Columbia — our Nashville Chapter 13 bankruptcy attorneys are highly experienced at guiding clients through the Chapter 13 process. Contact us today to set up a free consultation with a knowledgeable Chapter 13 bankruptcy attorneys lawyer.
Putting Together a Payment Plan
Chapter 13 bankruptcy offers the opportunity to put all of your eligible debts on a three- to five-year payment plan based on the amount of your regular monthly income that you can afford to set aside for payment of your debts.
Certain debts may have to be paid in full over the course of the plan period, but other debts — such as credit card debts and medical bills — can often be significantly reduced, and in many cases, you can pay only part of the debt and what you don't pay is forgiven under federal law.
If you are behind on a mortgage or auto loan, your late payments can be placed on the Chapter 13 plan, and as long as you are able to keep up with the plan as well as your future payments, you will be able to keep your home or vehicle.
Understanding the Advantages of Chapter 13
There are many reasons why a large number of Tennessee debtors choose to file Chapter 13 bankruptcy instead of Chapter 7. Some people do not qualify for Chapter 7 or would have to give up important assets for liquidation if they filed under Chapter 7.
Also, Chapter 13 may offer you the opportunity to restructure debts that are not eligible for discharge, such as student loans, IRS tax debts and child support. These are complex circumstances that benefit from the attention of an experienced attorney.
We are dedicated to helping you make an informed decision about whether Chapter 13 bankruptcy is right for you. Don't hesitate to contact us to discuss your options.
To learn more, read our additional information for Chapter 13 debtors.
