Overwhelmed and Need Debt Relief? Columbus Chapter 13 Bankruptcy May Be the Answer
Has your debt reached an unmanageable point, where you are worried about losing your car or home? If so, it is time to speak with a Columbus Chapter 13 bankruptcy attorney. Chapter 13 bankruptcy is designed to eliminate debt after making steady, manageable payments.
Filing for bankruptcy does not mean declaring defeat — instead, it is an opportunity to retake control of your financial future.
If you are filing for bankruptcy or need to learn more about Chapter 13 bankruptcy, do not go at it alone. Facing bankruptcy can be stressful and confusing, but the process can be made much smoother with our Chapter 13 bankruptcy attorney in Columbus by your side.
Our Columbus Chapter 13 attorney can help consolidate and discharge your debt. Call our Columbus office today at 614-228-4435 and ask for your free consultation.
Chapter 13 Bankruptcy Basics:What You Need to Know
Our Columbus Chapter 13 Lawyer Explains This Type of Bankruptcy
If you are facing financial struggles and fear losing your home, car, or other significant assets due to late payments and debt, speak with one of our Chapter 13 bankruptcy attorneys.Chapter 13 bankruptcy is a plan where debtorsake steady, court-approved monthly payments on their debts over three to five years. Chapter 13 provides a debt reorganization plan that lets you make affordable payments on your debts to avoid home foreclosure, vehicle repossession, and other loss of assets and negative outcomes.
Chapter 13 bankruptcy is often called a “wage earner’s plan” since you must have regular income and at least some disposable income to file for Chapter 13. Call our Chapter 13 bankruptcy attorney in Columbus to learn more about bankruptcy protections.
Once your three- to five-year repayment plan is complete, the remaining eligible debt will be discharged. After speaking with a Columbus Chapter 13 attorney, you may find that Chapter 13 is your best option if you are trying to keep your home or have other secured assets to protect.
Chapter 13 may also be best if your income is too high to qualify for Chapter 7 bankruptcy, which involves quickly liquidating debt that is not backed by assets or collateral.
Facing Debt Trouble in Columbus?Chapter 13 Offers Control & Relief
Is Chapter 13 Bankruptcy Right for You?
Filing for Chapter 13 bankruptcy ultimately allows you to regain your financial footing by reorganizing and managing your debt through monthly payments. A Columbus Chapter 13 bankruptcy attorney can help you determine the best path forward.
Consider the advantages that Chapter 13 can provide:
- By establishing court-approved monthly payments, you can pay off debt steadily and consistently.
- Bankruptcy protections enable you to keep your home, vehicle, and other significant assets.
- Bankruptcy repayment plans typically involve lower interest rates.
- Creditors can no longer harass you—no more incessant phone calls and letters.
- Under federal law, you can consolidate mortgage, vehicle loan, medical, credit card, and other forms of debt into one payment.
Upon finishing your repayment plan period, which typically lasts from three to five years, the remaining debts covered by your plan will be discharged.
While making your payments, an “automatic stay” provision will be in place, which means that creditors must stop contacting you and cannot pursue actions like foreclosure while making payments.
Don’t Risk DIY Bankruptcy: Get Expert Chapter 13 Support
We recognize that finances are tight if you are considering bankruptcy, so we offer affordable legal services. Regardless of your situation, the team at Fesenmyer Cousino Weinzimmer wants to take the time to sit down with you to learn about your situation and how we can help.
Teaming up with our Columbus Chapter 13 lawyer can help take the stress and complication out of bankruptcy filing. Call our Columbus office and ask for a free consultation to learn how to get the debt relief you need, at 614-228-4435.
Advantages of Working with a Columbus Chapter 13 Bankruptcy Attorney
If you are considering bankruptcy, a Franklin County Chapter 13 attorney can help guide you through the process and ensure you have the best plan.
There are many steps and complicated procedures involved when filing for bankruptcy, so let a Chapter 13 bankruptcy attorney in Columbus assist.
A Columbus Chapter 13 bankruptcy lawyer can:
- Help you assess options and work toward saving your financial future.
- Make sure you proceed with the best type of bankruptcy.
- Assist with bankruptcy filing, paperwork, and the various administrative processes.
- Help draft and formulate your repayment plan proposal.
- Ensure your rights and best interests are protected during court hearings and proposal negotiations.
- Keep you informed about bankruptcy processes and procedures throughout your repayment period.
By teaming up with our Columbus Chapter 13 lawyer, you will have an advocate and experienced guide. Filing for bankruptcy can be stressful, so it is more than worth having a knowledgeable Columbus Chapter 13 bankruptcy attorney to depend on.
Our Columbus Chapter 13 Bankruptcy Lawyer Can Walk You Through Each Step
Filing for bankruptcy can be complicated, but doing so correctly will ensure you have a solid, manageable plan for straightening your finances. When filing for Chapter 13 bankruptcy, we recommend that you:
- Speak with a Franklin County Chapter 13 attorney – Our experienced Chapter 13 bankruptcy attorney in Columbus can help you each step of the way. After reviewing your situation, a qualified attorney can help you formulate the best repayment plan, ensure you stay on track with court filings, and help handle any creditors who wish to modify your repayment plan.
- Gather financial documentation – Gathering your bank records, income statements, and documentation showing your amount of debt will be necessary. Property titles and mortgage statements may also be needed to show ownership of assets. This information will be used to formulate your repayment plan.
- File with the court – Your Chapter 13 bankruptcy repayment plan must be approved by the court. The court will hold a hearing to confirm your plan. Your Columbus Chapter 13 bankruptcy lawyer can help you prepare for court and a smooth court hearing.
- Attend credit counseling and financial management courses – You may be required to attend credit counseling and management sessions before you file or when you finish your repayment plan. Your Franklin County Chapter 13 lawyer can help arrange these.
FAQs: Common Questions for a Columbus Chapter 13 Bankruptcy Attorney
These two forms of consumer bankruptcy, like the filing process, asset exemptions, and automatic stay, are much the same. But these two legal actions have different purposes.
A Chapter 7 bankruptcy eliminates most or all consumer and/or business debts. A Chapter 7 bankruptcy is over in a few months, so you can begin rebuilding credit quickly. If your income isn’t high enough to pay credit card bills, medical bills, utilities, payday loans, or personal loans, this option may be the best one for you.
In a Chapter 13 bankruptcy, you can repay some or all of your debt affordably over a three-to-five-year period. A Chapter 13 repayment plan is available if you do not qualify for a Chapter 7 bankruptcy, or you want to keep an asset for which your payments are delinquent. This type of bankruptcy is designed to get you back on track with the debt that you want to keep, such as a car or home loan, while paying pennies on the dollar toward unsecured debt. Additionally, this type of bankruptcy may suit you if you have significant amounts of home equity or have other substantial property you wish to keep.
Certain debts are not dischargeable even in bankruptcy. These include back child support, alimony, most student loans, and certain kinds of tax debts. You may also choose to “reaffirm” a debt such as a mortgage on a home or a car loan and continue making payments if you wish to keep these assets. Bankruptcy does not protect cosigners on your debts. When a relative or friend has co-signed a loan, the cosigner may still have to repay all or part of the loan.
You undoubtedly have questions for a Columbus Chapter 13 lawyer if you are considering bankruptcy. By speaking with our Franklin County Chapter 13 bankruptcy attorney, you can have your questions answered and get the advice you need to retake financial control.
Do not Wait to Get Out of Debt. Talk to Our Columbus Chapter 13 Attorney Today.
If you are facing mounting debt that is only growing, it is time to act. By speaking with a Chapter 13 bankruptcy lawyer in Columbus, you can learn more about how bankruptcy can protect you, your home, and your financial future.
While choosing to declare bankruptcy is never a choice made lightly, our Columbus Chapter 13 lawyer can help determine if it is your best move and how bankruptcy could help your situation.
Call our Columbus office today at 614-228-4435 and ask to schedule a free consultation. It is time to get out of debt. Do not go at it alone; let our compassionate and knowledgeable Franklin County Chapter 13 bankruptcy attorney assist.