Chapter 13 bankruptcy

Chapter 13 bankruptcy in Wisconsin is an interest-free repayment plan. It is essentially an agreement between you and your creditors. In exchange for making these payments over a three to five-year period, a portion of your debt will actually be forgiven by your creditors. This means that you will often end up paying less back to your creditors than what you had originally owed them. Our bankruptcy law firm helps you every step of the way to create this plan.  We notify all of your creditors, refer you to an approved financial management class, and guide you through all other aspects of the process in an efficient and effective manner.

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Chapter 13 Debt Reorganization

File Chapter 13 bankruptcy to achieve a complete “debt reorganization.” For some people, including those who make too much money to file a Chapter 7, Chapter 13 has proven to be a helpful and powerful option for debt relief. Debt Advisors Law Offices utilizes Ch.13 to implement creative, affordable and effective ways to address debts that are otherwise impossible to overcome.

Chapter 13 bankruptcy is an interest free debt reduction & repayment plan that allows a person to:

• Secured debts repaid, which are typically large ticket items
• Obtain an interest free plan that reduces total debt
• Repay over a three to five year period
• Discharge remaining debts
• Enjoy a fresh financial start.

Learn more about bankruptcy types, fees and protections

Qualify for Chapter 13 Bankruptcy

We answer all of your  questions while assisting through the qualification process. If all Chapter 13 requirements are met, the bankruptcy process can begin. Filing a Chapter 13 with Debt Advisors will quickly launch an automatic stay order. This prevents creditors from continuing any collections against you, including letters, phone calls and legal actions.

In order for a person to qualify for Chapter 13:

• person must have a regular source of income
• have enough money to pay for basic living expenses while meeting the requirements of the Ch. 13 repayment plan

Get a Chapter 13 consult to see if you qualify

Timeline of a Chapter 13 Bankruptcy

• Chapter 13 bankruptcy begins when Chad and Mike file your petition for relief with the bankruptcy court. The court will enter an Automatic Stay order prohibiting most of your creditors from taking or continuing any collection or legal action against you. The harassing letters and phone calls must stop once your case is filed.

• The court will mail notice of the bankruptcy to all of your creditors, assign a bankruptcy trustee to your case and set a date for your hearing. At the hearing, the trustee will ask you a series of yes or no questions about the papers that were filed with the court.

• You must make your first Chapter 13 plan payment within 30 days of filing the case. Chad and Mike will explain how you do this and give you the mailing address.

• Thirty to forty five days after your case is filed, you will attend the meeting of creditors. The court-appointed trustee will preside over this meeting. You will be asked to testify under oath as to the accuracy of the statements in your petition. However, most of your creditors will not appear at the meeting, and you will not be before a judge. The meeting is very informal, and in most cases will last no more than five or ten minutes. Your attorney will attend this meeting with you.

• The court will then confirm your Chapter 13 plan. The plan is an agreement between you and your creditors that you will make payments for a period of three to five years and in exchange, your unsecured creditors agree to forgive a portion of the debt.

• You will then receive your bankruptcy discharge. However, you must complete a financial management course before the court will give you the discharge. Mike and Chad can refer to an approved financial management class.

Address Student Loans And Taxes

The beginning stages of a Chapter 13 bankruptcy are an ideal time to address student loans, overdue taxes, or back child support or alimony.  Addressing your domestic support obligations during bankruptcy may keep you out of legal trouble in the future. Through a Chapter 13 bankruptcy, we help reorganize and reduce bills into a more affordable payment plan. Our legal team negotiates with companies, government agencies, and banks on your behalf. Through these actions, we are often able to free up the funds necessary to tackle obligations that are behind in payment; such as student loans and recent taxes. We have over twenty five years of bankruptcy experience to ensure you get the most out of your debt reorganization and repayment plan. It’s important to speak with a bankruptcy attorney to get all the facts about:

• Student Loans
• Back Child Support
• Back Alimony
• Recent Taxes

Get Legal Advice About Chapter 13

When Ch. 13 Debt Reorganization Bankruptcy sounds like the right solution for you and your family, ask for your free consultation from Debt advisors. Through the initial consult, we can assess your situation, answer questions, and guide you towards the next best steps. Our goal is to  work with together to develop a payment plan that is right for you and your individual situation. Request your free consult today.

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Clients Talk About Ch.13 Services

Learn more about how Ch.13 bankruptcy can protect the things that are most important to you, such as a car or family home.  Restore your financial health through the Chapter 13 bankruptcy process. The attorneys at Debt Advisors help make this process as quick and painless as possible. We provide honest answers, soli advice, direction, and after bankruptcy support. But don’t just take our word for it; read what clients have to say about our services and how we have changed their lives for the better:

Bankruptcy Reviews From Clients