What Is Chapter 13 Bankruptcy?

Like other types of bankruptcy, Chapter 13 will immediately put an automatic stay into effect. This orders your creditors to stop contacting you in any way. It will also put an end to wage garnishment and creditor lawsuits. Most importantly, it will halt home foreclosure proceedings in their tracks.

Do you think you might benefit from Chapter 13 bankruptcy? It doesn't cost anything to find out. Simply reach out to the Michigan law firm of Bidwell Tovarez PLLC today. Our attorneys have helped thousands of people like you to start again, free from the stress of overwhelming debt.

How Does Chapter 13 Work?

While Chapter 7 bankruptcy involves liquidating some assets, Chapter 13 involves creating a manageable repayment plan. The plan will help you pay back as much as you reasonably can to creditors within a three- to five-year period. After that, your remaining debt will be "discharged" or erased.

Chapter 13 is often an excellent choice for those who have houses, vehicles and other types of property that they want to keep.

Will Filing Bankruptcy Ruin My Credit Score Forever?

No, filing bankruptcy will not permanently damage your credit score. In some cases, wiping the slate clean and starting again can actually be the best and fastest way to regain good credit.

Get The Answers You Need In A Free Consultation

We encourage you to call our lawyers and set up a free, confidential consultation. We will listen to the details of your situation and explain your full range of debt relief options. Call our offices in Royal Oak and Flint at 248-237-3718 or send us an email today.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.