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Cleveland Chapter 13 Bankruptcy Attorney

Chapter 13 bankruptcy is best suited for individuals who have a steady income and property that they may want to hang on to. A qualified Cleveland Chapter 13 bankruptcy attorney can best examine the details around your case and provide you with proper, legal guidance. Under a Chapter 13 bankruptcy, you will be able to keep your property, but will have to prepare a payment plan to repay all or some of your debts within a three (3) to five (5) year period. Essentially, you will be reorganizing your debt into debts that will be paid and debts that will be discharged. In exchange for paying some of your debts, there are some important benefits the Bankruptcy Code provides to you, which can make this type of bankruptcy a useful option. A Chapter 13 bankruptcy may sometimes allow you to reduce what you pay for your car (including your interest rates), reduce some of your tax liabilities (including tax penalties), and remove a second mortgage from your residence.

In order to qualify for Chapter 13 bankruptcy, you must prove that you can meet the financial obligations of making payments on your debt. Chapter 13 provides you some control in the payment plan and provides a second chance for keeping your home, paying off your taxes, and keeping your car. A lot of the time you will be able to walk away from most if not all of your unsecured debts, such as credit cards, and be able to create a payment plan with your Ohio bankruptcy attorney based on what you can afford.

Before filing for Chapter 13 bankruptcy, you will be required to receive credit counseling from an approved agency by the United States Trustee’s office. You will also be required to pay a filing fee.

When you are finished with your payment plan, any and all remaining unsecured debts that are eligible for discharge will be cleared.

Not sure you’re eligible for a Chapter 13 bankruptcy? Find out what the difference between Chapter 7 and Chapter 13 bankruptcy is.

Is Declaring Chapter 13 Bankruptcy Right for You? Contact Us Today.

If you are struggling with debt or staying up to date on your bills, there may be a debt solution we can help you with. The Cleveland bankruptcy lawyers at Luftman, Heck & Associates can discuss your options with you and help you build better financial skills for the future. Contact us today for a free consultation with a Chapter 13 bankruptcy attorney at or advice@clevelandbankruptcyattorney.com.
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