The two most common forms of bankruptcy are Chapter 7 and Chapter 13. Whereas Chapter 7 bankruptcy is considered a liquidation chapter, Chapter 13 is considered a reorganization and repayment chapter.
In a Chapter 13 case, we can file a three- to five-year debt repayment plan with the court on your behalf. Under the terms of your Chapter 13 plan, you will make monthly payments in an amount that you can afford to pay (as determined by the court).
Any amount of your unsecured debt that you show you are unable to pay, and which are dischargeable under the U.S. Bankruptcy Code, may be discharged upon completion of your Chapter 13 plan. As a result, you may be able to discharge a significant portion of your debts. To be eligible for Chapter 13 bankruptcy, you must have monthly income that can support a minimal monthly plan payment.
Chapter 13 Provides Immediate Relief From Creditors
Chapter 13 bankruptcy provides swift relief from creditor collection efforts. When your case is filed with the court, an automatic stay order will go into effect, which temporarily halts most creditors from taking any further collection activity against you. The automatic stay may help you to:
- Gain additional time to repay your debts
- Discharge a significant portion of your debts
- Stop home foreclosure
- Stop creditor harassment
- Stop a wage garnishment
- Stop an auto repossession
- Obtain other critical debt relief
To learn more, contact the Law Office of Robert C. Nisenson, L.L.C., in East Brunswick. We offer a free consultation to help you make an informed decision about bankruptcy. We also assist clients in Chapter 7 bankruptcy and other debt relief services.
Put Our Experience To Work For You
Each case at our firm is personally managed by attorney Robert C. Nisenson, a knowledgeable bankruptcy lawyer with more than 25 years of legal experience. Mr. Nisenson has advocated on behalf of thousands of clients in bankruptcy and debt relief matters.
Contact A Middlesex County Chapter 13 Debt Repayment Plan Attorney
From our office in East Brunswick, we serve clients throughout central New Jersey. We offer free consultations. Weekend and evening appointments are available. To schedule your consultation with East Brunswick Chapter 13 bankruptcy attorney Robert C. Nisenson, call 732-518-8038 or toll free at 800-645-9625. You may also contact us by email.