While a Chapter 7 bankruptcy eliminates dischargeable debts, a Chapter 13 bankruptcy results in a payment plan to resolve all of your financial issues with an affordable monthly payment. For many people with a steady income, Chapter 13 bankruptcy offers a debt relief option that reduces debt payments and allows them to take back control of their finances.
If you are overwhelmed by debt and need financial help, a Chapter 13 bankruptcy may be right for you. To schedule a free consultation with an experienced Bucks County Chapter 13 bankruptcy lawyer, call the Law Office of Michael S. Schwartz at 215-396-7900.
The Law Office of Michael Schwartz handles bankruptcy law cases in Southampton, Perkasie and Havertown, PA.
If your home mortgage lender is threatening or has initiated a home foreclosure action, we can discuss the best way to handle your situation. If you are trying to protect your home, a Chapter 13 bankruptcy may be a better solution than a Chapter 7 bankruptcy. Filing a Chapter 13 bankruptcy often reduces your monthly payments enough so you can afford your mortgage and any back payments.
Besides curing arrears on your mortgage or car loan, a Chapter 13 bankruptcy will allow you to resolve your tax liabilities and credit card debt through the reorganization plan. Depending upon your particular financial status (i.e., assets, family size, disposable income), we may be able to resolve unsecured debts at pennies on the dollar. Your new payment plan, if approved by the court, will allow you to pay your debts more gradually, and will give you a chance to get back on your feet.
You will be required to begin making payments to cure arrears on your loan(s) to the Chapter 13 bankruptcy trustee 30 days after the bankruptcy filing and every month thereafter during the repayment plan. You are also required to make your next mortgage payment after the bankruptcy filing, even if you do not receive an invoice from your lender.
Helping people is our goal. We always put our clients' interests first. We take great pleasure in helping people escape the stress and worry of overbearing debt. If you need help, call us at 215-396-7900, or contact us by e-mail to speak with a Southampton, Pennsylvania, lawyer about creating a payment plan to protect against foreclosure.
707 Lakeside Office Park
Southampton, PA 18966
101 East Darby Road
Havertown, PA 19083
101 North 5th Street
Perkasie, PA 18944