Chapter 13 Bankruptcy
When people are faced with overwhelming amounts of debt and have no realistic options for relief, the entire economy is damaged as a result, in addition to the stress and damage that is caused to individuals and their families. While the banking industry has been given billions of dollars of bailout money by the federal government, there has not been any such bailout given to individual debtors and the banks who received that bailout money often increased people’s credit and interest rates.
Fortunately, Chapter 7 and Chapter 13 bankruptcy are options for individuals who are in debt due to credit cards, medical bills and other forms of unsecured debt and need effective relief. Bankruptcy can help you take care of your family and create a fresh financial future. At Alzate Varley APC we can make the process of bankruptcy as easy and stress free as possible.
If you are considering bankruptcy, talk with one of our attorneys to learn more about getting the relief you need. We can help you understand the truth about bankruptcy protection, the mistakes that people can make when filing for bankruptcy and what considerations need to be made when you are going through the process.
Chapter 13 Bankruptcy
Chapter 13 is a form of bankruptcy sometimes called a “wage earner” plan. In order to pursue a Chapter 13, a person must have steady income that can be used to pay back some portion of the debt. At Alzate Varley APC, we have an approach that is aggressive and may be different than some other bankruptcy attorneys. We will not simply propose a high payment in the effort to get the monthly payment plan approved right away by the trustee. Instead, we propose a lower payment and we attend as many hearings as it takes and as many negotiations as we need to in order to negotiate the lowest payment we can for our client. After all, a person in a Chapter 13 bankruptcy will have to make this payment every month for the next three to five years.
The key to Chapter 13 bankruptcy is understanding whether a person is able to make the payments. If that is not realistic, Chapter 13 will not be effective. Attorneys should not just tell clients what they want to hear. We tell our clients what they need to hear. Our firm will always be honest with you about your best options.
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