Chapter 13, Mooresville, NC

If you are considering chapter 13 bankruptcy, reach out to our team to get the help you need to navigate the process as smoothly as possible.

If you are facing the prospect of bankruptcy, it’s important to have all the information you need about your options so you can determine which type you should file. There are two main types of bankruptcy designed for individual debtors, chapter 7 and chapter 13. In this article, we will be providing an overview of chapter 13 bankruptcy to help you start thinking about which option best suits your particular situation.

Chapter 13 in Mooresville, North Carolina

Chapter 13 bankruptcy is also referred to as a wage earner’s plan because it allows individuals who earn a regular income to repay all or part of their debt over time. When you file this form of bankruptcy, you will be expected to propose a plan to pay back your creditors in installments over the next three to five years. Note that you will not have to come up with this plan by yourself. In fact, the best approach is to rely on the help of professional legal and financial experts. Compared to chapter 7 bankruptcy, in which most or all of your assets will be seized and liquidated, chapter 13 has clear advantages, with the most significant one being that it allows you to save your home from foreclosure. To file chapter 13 bankruptcy, you will need to put together many documents for the court’s review, such as schedules of your assets and liabilities. Our team has extensive experience working in bankruptcy law, so you can count on us to make sure that everything is in order and to help you get to a better financial position by the end.

Our team is proud to serve the Mooresville, North Carolina community, and we want to help you do what’s best for your financial situation. If you are considering chapter 13 bankruptcy, we encourage you to give us a call to consult with our experts on the matter.