Law Office of Gail L. Hills

Chapter 13 Bankruptcy

Personalized service you can count on

A chapter 13 bankruptcy enables those with a regular income to propose a repayment plan to make installments to creditors over a three to five year period. The most important thing about a chapter 13 case is that it will allow you to keep valuable property, especially your home and car that may be at risk of foreclosure or repossession, so long as you make the required plan payments.

Chapter 13 bankruptcy also allows you to modify or remove certain liens from your property through a cramdown or lien stripping if certain conditions are met.

You should consider filing a chapter 13 plan if you:

* Own your home and are in danger of losing it because of money problems;

* Are behind on debt payments, but can catch up if given some time;

* Have valuable property, which is not exempt, but you can afford to pay creditors from your income over time.

* You will need to have enough income during your chapter 13 case to pay for your necessities and to keep up with the required payments as they come due.