A Dayton Chapter 13 Attorney on Your Side
Has your debt reached an unmanageable point, and you may even be worried about losing your car or home? If so, it is time to speak with a Dayton 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 Dayton by your side.
Our Dayton Chapter 13 attorney can help consolidate and discharge your debt. Call our Dayton office today at 937-222-7472 and ask for your free consultation.
Understanding Chapter 13 Bankruptcy
Our Dayton Chapter 13 Lawyer Explains This Type of Bankruptcy
If you are facing financial struggles and are in fear of losing your home, car, or other significant assets due to late payments and debt, speak with a Dayton chapter 13 bankruptcy attorney. Chapter 13 bankruptcy is a form of bankruptcy where debtors make 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 Dayton 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 Dayton 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.
Why Choose a Chapter 13 Bankruptcy Attorney in Dayton from Our Firm?
Facing bankruptcy is never anyone’s first choice, but it may be your best option to regain your financial footing. Attorney Thomas Fesenmyer has helped numerous clients find cost-effective solutions to debt, and he can help you too. By working with our Chapter 13 bankruptcy attorney in Dayton, you will have someone on your side to walk you through the Chapter 13 bankruptcy process. Filing for bankruptcy correctly is imperative, and our team of experienced attorneys in Dayton will be there for you each step of the way.
We offer compassionate, detail-oriented, and personalized service. By genuinely caring about our clients’ outcomes and financial best interests, we have built a track record of success helping people just like you.
An Affordable Dayton Chapter 13 Bankruptcy Lawyer Can Help You Today
By providing affordable services, we recognize that finances are tight if you are considering bankruptcy. 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 Dayton Chapter 13 lawyer can help take the stress and complication out of bankruptcy filing. Call our Dayton office and ask for a free consultation to learn about how you can get the debt relief you need, at 937-222-7472.
What Are the Benefits of Chapter 13 Bankruptcy?
Is Chapter 13 Bankruptcy Right for You?
Filing for Chapter 13 bankruptcy ultimately provides an opportunity to regain your financial footing by reorganizing and managing your debt through monthly payments. While a Dayton 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 you are making your payments, an “automatic stay” provision will be in place, which means that, legally, creditors must stop contacting you and cannot pursue actions like foreclosure while you’re making payments.
Advantages of Working with a Dayton Chapter 13 Bankruptcy Attorney
If you are considering bankruptcy, a Dayton Chapter 13 attorney can help guide you through the process and make sure you have the best plan in place. There are many steps and complicated procedures involved when filing for bankruptcy, so let a Chapter 13 bankruptcy attorney in Dayton assist.
A Dayton 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 Dayton Chapter 13 lawyer, you will have an advocate and experienced guide on your side. Filing for bankruptcy can be stressful, so it is more than worth having a knowledgeable Dayton Chapter 13 bankruptcy attorney to depend on.
Our Dayton Chapter 13 Bankruptcy Lawyer Can Walk You Through Each Step
Filing for bankruptcy can be a complicated process but doing so correctly will ensure you have a solid, manageable plan for straightening out your finances. When filing for Chapter 13 bankruptcy, we recommend that you:
- Speak with a Dayton Chapter 13 attorney – Our experienced Chapter 13 bankruptcy attorney in Dayton can help you each step of the way. After reviewing your situation, a qualified attorney can help you formulate the best repayment plan, make sure you stay on track with court filings, and help handle any creditors that 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 court-approved. The court will hold a hearing to confirm your plan. Your Dayton 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 Dayton Chapter 13 lawyer can help arrange these.
FAQs: Common Questions for a Dayton Chapter 13 Bankruptcy Attorney
You likely have several questions for a Dayton Chapter 13 attorney if you are considering bankruptcy. Below are several questions and answers that can help you learn more about Chapter 13 bankruptcy:
A Chapter 13 bankruptcy declaration will typically stay on your credit report for seven years. That period includes the three to five years spent repaying debts. So, if your repayment plan is five years long, the declaration will stay on your report for only an additional two years. A bankruptcy filing can also show up on a background check, which may not necessarily be harmful.
Chapter 7 bankruptcy is different from Chapter 13 in that it does not involve a steady repayment plan; instead, Chapter 7 seeks to quickly clear away debt that is not backed by collateral, such as credit card debt, medical debt, and unpaid personal loans. Individuals without regular income or who have little to no disposable income may qualify for Chapter 7.
A Chapter 13 bankruptcy attorney in Dayton can tell you that there are some disadvantages to Chapter 13. Under a Chapter 13 repayment plan, all disposable income goes toward debt repayment. And unlike Chapter 7 bankruptcy, debt will not be discharged until after three to five years. You also must make your monthly payments, or your case could be dismissed and your bankruptcy protections lost.
Even by working with a Dayton Chapter 13 bankruptcy lawyer, some forms of debt cannot be discharged. Chapter 13 cannot discharge debt incurred from child support and alimony payments; student loans; fines and penalties, including traffic tickets and restitution payments; and unpaid taxes.
You undoubtedly have questions for a Dayton Chapter 13 lawyer if you are considering bankruptcy. By speaking with our Dayton 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 Dayton Chapter 13 Attorney Today
If you are facing mounting debt that is only growing, it is time to act. By speaking with our Dayton Chapter 13 bankruptcy lawyer, 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 Dayton Chapter 13 lawyer can help determine if it is your best move and how bankruptcy could help your situation.
Call our Dayton office today at 937-222-7472 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 Dayton Chapter 13 bankruptcy attorney assist.