You CAN Get Back on Track
Chapter 13 bankruptcy allows you to pay off your debts over time. If done correctly, you can save your home, your vehicle and other property, and creditors cannot bother you anymore.
The Law Office of D.E. Davis, PLC, works to ensure that you keep your assets and — just as importantly — that you can afford the payments. He has helped many people in the Fayetteville area and Northwest Arkansas find relief from debt problems through Chapter 13.
Call the Law Office of D. E. Davis at 877-231-0627 to schedule a consultation. We represent individuals and couples in Washington County, Benton County, and Northwest Arkansas.
Chapter 13 Bankruptcy (Reorganization)
Not everyone is a candidate for Chapter 7 bankruptcy, which wipes out unsecured debts entirely. In Chapter 13 bankruptcy, you make one monthly payment to a trustee, who then portions the money out to your creditors. The debt repayment plan is based on what you can afford to pay after household expenses, for a period of 36 to 60 months (three to five years). If you complete all the scheduled payments, any remaining debts are discharged.
As soon as you file, foreclosure or repossession actions stop and there are no more harassing phone calls.
Chapter 13 bankruptcy may be the best solution or only option if:
- You earn too much to qualify for Chapter 7
- You have substantial equity in your home
- You have real estate or other non-exempt assets that would be forfeited
- You are behind on your mortgage but want to keep your house
Experienced Bankruptcy Lawyer
Many people who file Chapter 13 bankruptcy do not finish the plan, because of a new financial crisis or old bad habits. We will carefully examine your income, expenses, assets and debts to put you in the best position for long-term success. He can advise you on the best recourse if you are behind on your mortgage or car loan and he can help you determine whether you can realistically pay the arrears over time or whether you are better off allowing the lender to foreclose/repossess.
Credit Counseling Requirement: Before you can file for bankruptcy, you must take an approved credit counseling course to explore all your options. Before your petition is approved, you must complete a financial management course to help you stay out of similar financial trouble in the future. These courses can often be completed online.
Contact one of our attorneys today to start the process of getting your life back on track.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
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