Chapter 13 Bankruptcy
Bankruptcy Attorneys: Belleville, IL | Glen Carbon, IL | Highland, IL

image of chapter 13 bankruptcy papers

Overview of Chapter 13 Bankruptcy

Our bankruptcy attorneys know the emotional strain you are experiencing due to money problems. We know many people find themselves struggling with debt due to factors beyond their control. Chapter 13 Bankruptcy was specifically created for people who earn good money but for one reason or another fine themselves having money problems. We help people find a solution to ease their burden and make it easier to continue the life they are meant to live.

What is Chapter 13 Bankruptcy?

Chapter 13 Bankruptcy is sometimes called the "wage earner's plan" or "repayment plan" bankruptcy because this type of bankruptcy provides for the repayment of your debt. Unlike Chapter 7 Bankruptcy, which eliminates most debt, Chapter 13 Bankruptcy is designed to repay your creditors over a a 3 - 5 year period, often at a significant reduction.

There are specific qualifications that must be met in order to file Chapter 13 Bankruptcy. An experienced bankruptcy attorney can help you understand how the bankruptcy law may help you and can answer specific questions about your situation.

Each type of bankruptcy has advantages and disadvantages that should be considered before filing bankruptcy. Filing the wrong type of bankruptcy can have a far reaching impact and, sometimes, disastrous consequences. It is important you speak with an experienced bankruptcy lawyer prior to filing any bankruptcy

We offer a FREE Consultation with a bankruptcy lawyer so you can make an informed decision about what type of bankruptcy is right for you.