Wilmington Chapter 13 Bankruptcy Lawyer
When attempting to deal with financial issues, many individuals consider filing for bankruptcy as an option. At Alley, Register & McEachern, we are skilled bankruptcy attorneys who can help clients understand if bankruptcy is right for them and, if so, what bankruptcy may mean for them, their families and their futures. Contact us today to discuss your case.
What is Chapter 13?
Chapter 13 is essentially a reorganization plan which allows you to repay your debts and be protected from harassment. The payment plan usually lasts from three to five years. With a Chapter 13, you get to keep your property, but you remain liable until you complete the repayment process. You can use a Chapter 13 to reorganize back house payments, car payments, income tax debts and credit card bills.
If Chapter 13 is right for you, it is important that you have a knowledgeable attorney on your side. A Chapter 13 bankruptcy is more complex than a Chapter 7 filing, since Chapter 13 requires a debtor to present a repayment plan to the court detailing how the debts will be addressed. A steady source of income must also be shown that can suit the terms of the proposed repayment plan.
Filing for Chapter 13 bankruptcy protection has many of the same benefits as filing for Chapter 7. These benefits can include the stopping of creditor harassment and stopping repossession proceedings. In addition, all past-due bills are paid through with interest and late charges are no longer assessed against your debts. This provision can even include back amounts due on IRS tax debts or student loans.
While bankruptcy may be exactly what some people need, others may be able to avoid bankruptcy through other financial reorganization and planning. Our firm can help you explore your options and find the debt management option that is best for your particular financial situation.
Contact a Chapter 13 attorney at the North Carolina office of Alley, Register & McEachern today and schedule your free consultation.
Alley, Register & McEachern
701 N 4th St.
Wilmington, NC 28401
Phone: (910) 251-0103
Fax: (910) 251-0209
The law firm of Alley, Register & McEachern serves clients throughout the Wilmington, North Carolina area, including the counties of Bladen, Brunswick, Columbus, Duplin, New Hanover and Pender.
*We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
