Chapter 13 Bankruptcy

ARE YOU ELIGIBLE TO FILE A CHAPTER 13 BANKRUPTCY?

Chapter 13 allows individuals to develop a plan to repay all or part of their debts. The purpose is to make installment payment to creditors over a period of three to five years. If your current income is less than the State of Illinois median, the plan will be for three years unless the court approves a longer period. During this time, the law forbids collection efforts by creditors. They can’t call you. One of the benefits of filing a Chapter 13 Plans is that it'll allow you an opportunity to save your home from foreclosure proceedings. Another benefit to Chapter 13 is that it acts as a consolidation loan. Payments are made to the trustee who the distributes the payments to creditors. There is no direct contact with creditors while you are under Chapter 13 protection. Chapter 7 Bankrupycy

 

Attorney Charles Wm. Dobra has practicing law in the Bankruptcy area for many years, and would be happy to meet with you. If you are ready to discuss a Bankruptcy proceeding, we are here to help you.

Contact us for a FREE consultation.

Email :
675 East Roselle Road - Suite 100
Roselle, Illinois 60172
Phone: 630-893-2494
Fax: 630-893-2497
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