Chapter 13 Lets You Pay Off Debt On Your Budget

Chapter 13 is a type of bankruptcy that allows you to create a debt repayment plan that works at your income level. Plans usually last three to five years. Through the plan, all or most of your debt will be repaid. Remaining debt may be discharged. For items you want to keep and continue making payments on such as your car or home, the debt may be reaffirmed.

Why Choose Chapter 13?

Chapter 13 makes more sense than other bankruptcy options for a variety of reasons. Perhaps you do not qualify for Chapter 7, but would still like relief from debt. Perhaps you have types of debt that would not be discharged in Chapter 7 but could be included in a Chapter 13 repayment plan. Chapter 13 is often chosen by people who have automobiles or houses, because past due payments can be included in the repayment plan and these important assets can be kept as long as payments are kept current.

Of course, Chapter 13 comes with the same protections as Chapter 7. As soon as you file, you can expect:

  • Creditor harassment to stop
  • Creditor lawsuits to stop
  • Repossession actions to stop
  • Foreclosure actions to stop

At Tsao-Wu & Yee LLP, our Bay Area lawyers are well-versed in the strengths of Chapter 13 and can review your situation to determine if it is right for you.

Find Out If Chapter 13 Will Work For You

Call 800-494-0390 or email us to discuss your case with an experienced attorney. We have law offices in San Jose and San Francisco, California.