Jenkintown, Plymouth Meeting, & Philadelphia Chapter 13 Bankruptcy Attorney
If you are not eligible for Chapter 7 bankruptcy, Chapter 13 may present an alternative solution to your debt problems. The main difference between Chapter 13 and Chapter 7 is that under Chapter 13, you will enter into a three to five year payment plan to restructure your debts, which usually includes paying only a fraction of your unsecured debt, such as credit cards or past medical bills. Chapter 13 can be a good choice for homeowners who wish to pay arrearages on their mortgage and stop foreclosure. Chapter 13 can also work for people with steady sources of income who do not pass the Chapter 7 means test.
At Alfred Abel Law Offices, we take our roles as advisors and advocates equally seriously. When we have a complete understanding of your financial situation, we will counsel you about your best options. Once you have decided on how to proceed, we will protect your rights at every step of the way. We represent individuals and families across Philadelphia, Montgomery County and the surrounding areas of Pennsylvania.
Bryn Mawr Debt Repayment Plan Lawyer
Under Chapter 13, your repayment plan is based on your ability to pay. We will propose a repayment plan to the bankruptcy court. Your creditors will have very limited opportunities to object to your plan. Once the court approves your repayment plan, you can begin paying your debts according to the terms of the plan. Chapter 13, like Chapter 7, has an automatic stay, so your creditors will not be able to take action against you after you have filed for bankruptcy. Once your payment plan is concluded, any remaining unsecured debt will be discharged.
Contact Alfred Abel Law Offices
If you are interested in filing for Chapter 13 bankruptcy or want to learn more about your options, call or e-mail our law firm today. Call
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
Alfred M. Abel Law Offices
