What Are Chapter 13 Repayment Plans?
A Chapter 13 bankruptcy is very different from a Chapter 7 bankruptcy. It’s not uncommon to have questions about the differences in consumer bankruptcies so you have the information you need to make an informed decision for your future.
If you have questions about bankruptcy, the first thing to do is to talk with a lawyer. At the Law Office of Gordon Mosley, I am an attorney with more than 20 years of bankruptcy experience. I work with individuals and small businesses throughout Texas. I am here to help you get answers about bankruptcy and debt relief.
Chapter 13 Repayment Plans
In a Chapter 13 bankruptcy, a repayment plan is worked out. During the plan, you pay back a portion of your debts. This is typically a three- to five-year plan. At the end of the plan, the remainder of your unsecured debts is discharged. This type of bankruptcy gives you the opportunity to deal with lien issues, repossessions and mortgage arrearages. It will stop foreclosure so you can make up payments.
There is also a personal liability component to a Chapter 13 bankruptcy. I can help explain this and how other issues such as loan modifications affect a Chapter 13 bankruptcy.
Your First Meeting Is Free
I do not charge for the first meeting at my firm. You will meet directly with me, attorney Gordon Mosley. Call 903-266-1843 or complete an online form to get in touch with my team. My office is located in Smith County and handles cases throughout all nearby Texas areas.
My law office is a debt relief agency and helps people file for bankruptcy relief under the Bankruptcy Code.