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How Chapter 13 Can Help You Resolve Debt Problems

If you are overwhelmed with personal debt, you may be considering filing for bankruptcy. Most people think of bankruptcy as a way to discharge their debts completely under Chapter 7 of the U.S. Bankruptcy Code. However, people who don’t qualify for Chapter 7 under the bankruptcy means test can still petition the courts to restructure their debt under Chapter 13.

Did you know? Chapter 13 allows you to strip off a second or third mortgage from your house payment if the value of your property is below the amount of your first mortgage. Most people can keep their house and car through Chapter 13, while greatly reducing their total monthly debt payments to all creditors.

Chapter 13 is not necessarily a poor alternative to Chapter 7. In the first place, Chapter 13 is not selective about the type of debt you can include in your repayment plan. That means you can save thousands of dollars in reduced loan principal, interest payments, penalties and fees while repaying your debt in a single monthly payment plan of three to five years. At the conclusion of the court-supervised plan, your remaining debts are discharged by the courts. An additional benefit to Chapter 13 is that you are showing creditors that you are willing to continue paying as much as possible on your debts. Your credit rating will still take a hit, of course, but you will not feel the negative consequences quite as long as you would under Chapter 7.

If you reside in southwestern Pennsylvania and are worried about digging yourself out from under heavy debt, call Schimizzi Law, LLC. From offices in Greensburg, our attorneys provide legal counsel and advocacy for clients in Westmoreland County and communities throughout southwestern Pennsylvania. Call at 724-838-9722, or contact us by email to arrange an initial consultation with one of our experienced Greensburg Chapter 13 bankruptcy lawyers today.

We Can Help Restructure Your Debts

Let us help you feel more comfortable with solving your legal problem. You will find our staff friendly and our attorneys approachable and responsive. Our offices are located just one block from the courthouse in downtown Greensburg. If you have special needs or limitations, such as inability to meet during the day, we will find a time that works. Call us at 724-838-9722, or use the email form on our contact page to inform us of your legal needs. We accept Visa and MasterCard for your convenience.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.