Chapter 13
Helping you repay your debts over time without losing your hard-earned assets
Chapter 13 Bankruptcy Attorney In Cherry Hill, New Jersey
What Is A Chapter 13 Bankruptcy?
If you’ve fallen behind on your house or car payments, a Chapter 13 bankruptcy can help stop foreclosure, protect your vehicle, and possibly reduce your car payments. In some cases, you may qualify for a repayment plan where you pay only a portion of your debt while keeping ownership of your assets, including your home and car. Even if you owe past parking tickets and have lost your driver’s license, Chapter 13 may help you get your license reinstated.
To fully benefit from what Chapter 13 offers, it’s important to have a dedicated bankruptcy attorney guiding you through the process. The team at Boyle & Valenti Law, P.C.
has a strong track record assisting clients with Chapter 13 cases and can help you work toward a positive resolution. Contact us today to schedule a consultation.
Call Boyle & Valenti Law, P.C. at 856-499-3335 to schedule a consultation with a lawyer today.
How Do I Qualify for a Chapter 13 Bankruptcy?
First, you need a steady and reliable income sufficient to cover the payments required by the court. This income doesn’t have to come from a traditional job—you may qualify if you receive Social Security, disability benefits, unemployment payments, retirement income, or even rental income. However, stock or commodity brokers are not eligible for Chapter 13 bankruptcy, and neither are corporations. Sole proprietors and self-employed individuals may qualify if their debts fall within certain limits. If your debts span three to five years, you’re likely eligible, provided you pass a means test to confirm your qualification.
The team at Boyle & Valenti Law, P.C.
can review your financial situation before you file and help determine if Chapter 13 bankruptcy is the right option for you. Contact us today to get started.
What Happens During a Chapter 13 Proceeding?
First, you’ll need to demonstrate your eligibility through the means test mentioned earlier. Once eligible, filing for Chapter 13 bankruptcy will halt foreclosures, wage garnishments, repossessions, lawsuits, and other actions from creditors. We’ll assist you in developing a repayment plan, which must then be approved by the court. The court will review your plan to ensure it’s proposed in good faith, that unsecured creditors receive at least as much as they would under Chapter 7, and that your payments reflect all disposable income—not used for necessary support or maintenance.
Though this process can be complex, having a knowledgeable bankruptcy attorney from Boyle & Valenti Law, P.C.
guiding you can make all the difference. Contact our office today to begin.
Disclaimer: We are a debt relief agency. We are attorneys who help people file for bankruptcy relief under the bankruptcy code.
Have Questions?
Call Boyle & Valenti Law, P.C. at 856-499-3335 today to schedule a consultation and discuss your bankruptcy options with a knowledgeable attorney who can help guide you toward the best possible solution for your financial situation.