Chapter 13 Bankruptcy

Chapter 13 is often referred to as the "wage earner" or "personal reorganization" bankruptcy.
In a Chapter 13 filing, you submit a plan to the bankruptcy court to re-pay debts over a
three to five year period. At the end of the plan period, most of your leftover debts are
eliminated, even if they were not paid back in full.

Chapter 13 is often a good choice for consumers trying to keep their homes or other property or
for people who have a lot of debts, like student loans, that cannot be discharged.

Any bankruptcy filing puts an immediate stop to debt collectors phone calls, letters, and other collection efforts.

Lien Stripping
Chapter 13 may be able to "strip" or remove a second mortgage or home equity loan on your home.
For many people, not having to pay the second mortgage can make the difference between being
able to save the home and being forced into foreclosure.

Lien stripping can be a powerful tool under the right circumstances and can help save a home from foreclosure. Many debtors are able to eliminate between $25,000 and $50,000 or more, of debt by stripping the second mortgage.


Call us at (520) 495-7596 or e-mail us today for an appointment.