Chapter 13 Gives You A Fresh Financial Start
Debt is a part of life for millions of Americans. If you are one of them, you know how mortgages, automobile loans, taxes and student loans can weigh you down. Added to that burden, you may have credit card balances, medical bills and more. It is easy to fall behind on your monthly payments, especially after an unexpected setback. If you are in that position, what you need is a break, a plan and a little bit of time to get out from under your load, and get your debt back under control. With the help of the Law Offices of William M. Gillen, PC, you can give yourself a fresh financial start.
I am firm founder William Gillen. In the past 21 years, I have helped thousands of clients get out from under debt. With offices in Manchester, Nashua and Concord, my firm provides experienced representation in debt relief and bankruptcy law for people throughout southern New Hampshire. You never need to worry about shame or judgment about money issues when you work with me. I strive to treat every client with compassion and I work hard to help them ease their financial burdens.
Reorganizing And Repaying Your Debt Through Chapter 13
Unlike Chapter 7, which discharges most debts, Chapter 13 is focused on reorganizing debt into a manageable repayment plan. If you have a steady source of income, Chapter 13 is a great way to stop foreclosure, auto repossession or other disasters, and get out of debt. When you file for Chapter 13 bankruptcy protection, a court immediately orders your creditors to stop harassing you. With the help of a bankruptcy attorney, you then work out a plan to repay your debts over a period of three to five years. If everything goes according to plan, at the end of that period, the court then works out a debt settlement, giving you financial freedom.
A Chapter 13 operates somewhat like a debt consolidation loan. An individual makes the payments to an official known as a Chapter 13 trustee who then distributes the money to creditors so that the person filing bankruptcy does not have to deal with them directly. It is important to note that while you are repaying your debts you will receive protection from your creditors who are prevented from taking any action to collect on the debts that you owed them prior to the filing of your bankruptcy.
A vital provision in Chapter 13 is that you only have to pay creditors of your unsecured debts (credit card and medical bills) what you can afford after paying your secured debts and covering the important expenses need to operate your household. In some cases, your unsecured creditors may only need to receive pennies on the dollar in order for you to be absolved of the debts you owe them.
Get Started With An Initial Consultation
Chapter 13 is an important option for a number of reasons, including the fact that not everyone will qualify for Chapter 7. When you contact my office, we can discuss all your options for debt relief. At the Law Offices of William M. Gillen, PC, I personally handle your case from start to finish and I offer the personalized attention and advocacy that you need and deserve during this difficult time. To get started, call me today at 603-882-3223. You can also reach the office by email.
The Law Offices of William M. Gillen, PC, is a debt relief agent. It helps people file for bankruptcy protection under the U.S. Bankruptcy Code.