Experienced Chapter 13 Bankruptcy Lawyer Representing Hartford Clients
Chapter 13 bankruptcy allows you to consolidate your unsecured debts and repay them over a period of three to five years. It is an alternative form of bankruptcy designed for those who fail to qualify for Chapter 7 bankruptcy, and/or for those who wish to protect non-exempt assets from the liquidation process. Filing for Chapter 13 bankruptcy relief will immediately stop unwanted phone calls and letters from creditors and collection agencies. It will also prevent your mortgage lender from foreclosing on your home.
Are You Eligible?
If you wish to qualify for Chapter 13 bankruptcy relief, you must prove that you have a regular source of income, either through employment or the operation of a business, and that income must cover the cost of a court approved repayment plan. Bankruptcy law in the state of Connecticut is wildly complicated, and you may be denied if your secured or unsecured debt limit exceeds a certain value. Speaking with an experienced Chapter 13 bankruptcy attorney can help you better understand the intricacies of Connecticut bankruptcy law.
You May Want to File for Chapter 13 Bankruptcy If…
There are many reasons why you may want to consider filing for Chapter 13 bankruptcy, not the least of which is whether or not you’re ineligible for Chapter 7 bankruptcy relief. You may also want to file for Chapter 13 if you want to prevent your home from being foreclosed upon and your car from being repossessed, or if you’d simply like to maintain possession of your non-exempt assets. Chapter 13 bankruptcy relief is also beneficial if multiple debtors are involved.