If you do not pass the means test to qualify for Chapter 7 bankruptcy protection, it is not the end of the story. For some people, reorganization under Chapter 13 is the better debt relief option. Chapter 13 reorganization represents a new start and the end of harassing calls from creditors.
Reorganizing your debt into a manageable payment plan can be a great way to get a financial fresh start and protect your valuable assets. Call our Franklin office at 508-528-8885.
A Life Without The Stress Of Financial Problems Is Possible
For clients who want to keep their family home and car, but are behind on their monthly payments, Chapter 13 provides an opportunity to work on repaying debt while stopping foreclosure and repossession proceedings. Under Chapter 13, debt is consolidated into a court-approved repayment plan.
The plan involves making monthly payments for a set period of time, typically three to five years. Even just the relief of having to make only one payment each month can ease the stress in your life. Imagine making only one monthly payment on your debt as opposed to the multiple minimum payments to credit card companies. Life gets easier and less stressful under Chapter 7 liquidation or Chapter 13 bankruptcy reorganization.
Franklin, Massachusetts, Chapter 13 Attorney
At Law Offices of Ira C. Yellin, LLC, we help clients save what is most valuable to them. Many times, clients come to us fearing that they will lose the very roof over their head. In some cases, a home foreclosure action has already begun. A car is in danger of being repossessed. The phone rings constantly with creditors on the other end. A trip to the mailbox brings fear of final notices. These circumstances cause many people to feel hopeless and trapped by debt.
Living with overwhelming debt is no way to live. Federal bankruptcy laws offer you protection from creditor harassment and the right to start over. We can give you the help you need to do just that. Life can begin anew with a home that is no longer threatened by foreclosure and a telephone that does not ring continuously with the calls of angry creditors.
An Opportunity To Remove A Second Mortgage
One of the unique advantages of Chapter 13 bankruptcy in some instances is the ability to have a second mortgage removed as a lien on the property. Lien stripping (which depends on the current value of your property and the balance owed on the first mortgage) puts equity back into your property by significantly reducing the debt on the property.
Contact A Boston Chapter 13 Bankruptcy Attorney For A Free Consultation
We can answer your questions if you're behind on your mortgage or any other bankruptcy questions. For more information or to schedule an appointment with an experienced Massachusetts bankruptcy lawyer, contact The Law Offices of Ira C. Yellin, LLC today. Call our Franklin office at 508-528-8885 or send us an email. From our offices, we assist clients with Chapter 13 in Attleboro, Boston and surrounding areas.
When representing consumer debtors in connection with bankruptcy, Law Offices of Ira C. Yellin, LLC, is a debt relief agency as defined by the Bankruptcy Code, 11 USC § 101(12A).