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- Chapter 13

Chapter 13 bankruptcy is a debt repayment plan. However, unlike other types of debt consolidation or repayment plans, it offers you protection from adverse creditor actions such as foreclosure and repossessions.

I am an experienced bankruptcy lawyer serving clients in Seattle, Washington. I offer a free initial consultation to determine if Chapter 13 bankruptcy is the best option for you based on your debts and your assets.  (206) 262 - 1040

When Should I File Chapter 13 Bankruptcy?

There are many times when Chapter 13 bankruptcy is the best option for your debt problems. Here are some examples:

  • When you are behind on your mortgage payments and facing foreclosure
  • When you are not eligible to file Chapter 7 bankruptcy because you are a wage earner who earns more than the median income in Washington state and you do not pass the bankruptcy means test
  • When you have valuable assets that would not be protected when you file Chapter 7 bankruptcy. Examples of property you can lose when you file Chapter 7 bankruptcy include rental property, boats, collectible cars and antiques.

What Happens When I File Chapter 13 Bankruptcy?

When you file Chapter 13 bankruptcy, the court will approve a debt repayment plan. Under this plan:

  • You will repay certain debts in full, such as home mortgages and other secured debts
  • You will repay a percentage of certain other debts, such as credit card bills, payday loans, hospital bills and other unsecured debts

Your payment plan can be either three years or five years. After that period of time, unsecured debts will be discharged.

Not all debts can be discharged. For example, student loans and past due child support must be repaid in full.

Free Lawyer Consultation

If you would like more information about Chapter 13 bankruptcy, please  contact my law office to schedule a free attorney consultation. From my office in Seattle, I serve clients in Seattle, Tacoma and surrounding communities in Washington state.

(206) 262 -1040