Mesa Chapter 13 Bankruptcy
Filed by an Arizona Chapter 13 Bankruptcy Attorney
Chapter 13 Bankruptcy Lawyers in Arizona. Whereas, Chapter 13 Bankruptcy is known as a reorganization bankruptcy, it also the 2nd most filed chapter of bankruptcy in Arizona. It is usually filed by individuals who want to pay off their debts over a period of three to five years; need to catch up on delinquent accounts (like mortgage arrearages or delinquent car payments); or make too much money after reasonable and necessary expenses to qualify for Chapter 13 bankruptcy.
When our experienced Arizona bankruptcy lawyers file your case, the bankruptcy court assigns a trustee to your case. Subsequently, you will make a monthly payment to the trustee, called the Chapter 13 plan payment. The trustee will then distribute this payment to your creditors.
Typically, only those individuals who have consistent monthly income are likely to complete the three to five year commitment period. Additionally, you will have to live on a tight budget over the Chapter 13 repayment period.
Self-employed individuals can file Chapter 13 bankruptcy, but must work closely with an experienced Ch 13 bankruptcy attorney and maintain regular contact. Since monthly income typically fluctuates, your Chapter 13 plan payment may need to monitored and adjusted. Though a chapter thirteen may be difficult to understand and maneuver, our experienced lawyers will work with you every step of the way.
Benefits of Filing Chapter 13 in Arizona
Also, chapter 13 bankruptcy can help you save your house, your apartment and your car. Additionally, we can freeze foreclosure proceedings and lawsuits, stop eviction, and car repossessions by helping you file chapter 13 bankruptcy. Keep in mind, you can cure defaults over time and pay off a portion of your debts in a chapter 13 wage earner repayment plan.
Additionally, Chapter 13 cases can be difficult because every disposable dollar, after reasonable expenses, must be paid into your plan. Thus, you will not have much, if any, room to deal with a lot of everyday events. Auto and home repairs; time off from work and important life events can make your monthly payment difficult. Therefore, we will have to work together to make sure you are staying on top of your payment and continuing with your plan.
We are a debt relief agency. We help people in Arizona file for bankruptcy relief under the Bankruptcy Code.