Chapter 13 Bankruptcy

Chapter 13 bankruptcy provides an opportunity for individual to reorganize or adjust their debt under a chapter 13 bankruptcy plan. This includes secured debt (such as mortgages and car loans)  and unsecured debt (such as credit cards and personal loans). The chapter 13 bankruptcy plan is formulated to address a person’s own individual financial problems.

chapter 13 bankruptcy

Mortgage Modification

        • Bankruptcy Court’s “Mortgage Modification Mediation” (MMM) Program
        • Direct communication with mortgage lender over internet portal
        • Parties assisted by MMM Program appointed Mediator

Save Home from Foreclosure

        • Filing of case stops most foreclosure sales
        • Reinstate mortgage over a period of up to five years
        • Avoid wholly “underwater” second mortgage or other junior liens

Credit Card Debt

        • Stay collection of credit card debt
        • Stop wage garnishment
        • Most cases only require partial payment under chapter 13 plan
        • May be denied under certain circumstances by the Bankruptcy Court