Experienced Aggressive Bankruptcy Attorneys
Chapter 13 Bankruptcy
Chapter 13 Bankruptcy is only available for Individuals. Chapter 13 allows an individual to pay off debts over time based on the individual’s projected income in a plan that runs from three to five years. After all plan payments are made, Debtor will receive a discharge of all debts incurred before filing bankruptcy. Chapter 13 may be a good option for you rather than Chapter 7 if you are behind on secured debt payments, or you have assets that would be liquidated if you filed a Chapter 7 Bankruptcy.
The Lindemann Law Group will realistically inform you regarding what your plan payment would be after looking at your income, your expenses, your debts, and assets.
Chapter 13 also permits many Debtors to cram down certain secured debts which means, reducing payments to equal the present value of the collateral (home or car) securing the debt. Where a loan on your home is completely unsecured, the Lindemann Law Group may be able to strip the loan off the asset completely on your behalf.
Congress has made cramming down secured debts on vehicles more difficult, but the Lindemann Law Group is aware of certain case law that permits cram down of notes secured to vehicles in limited circumstances.
More on Chapter 13
Chapter 13 Bankruptcy is only available for Individuals. Chapter 13 allows an individual to pay off debts over time based on the individual’s projected income in a plan that runs from three to five years. After all plan payments are made, Debtor will receive a discharge of all debts incurred before filing bankruptcy. Chapter 13 may be a good option for you rather than Chapter 7 if you are behind on secured debt payments, or you have assets that would be liquidated if you filed a Chapter 7 Bankruptcy.
The Lindemann Law Group will realistically inform you regarding what your plan payment would be after looking at your income, your expenses, your debts, and assets.
Chapter 13 also permits many Debtors to cram down certain secured debts which means, reducing payments to equal the present value of the collateral (home or car) securing the debt. Where a loan on your home is completely unsecured, the Lindemann Law Group may be able to strip the loan off the asset completely on your behalf.
Congress has made cramming down secured debts on vehicles more difficult, but the Lindemann Law Group is aware of certain case law that permits cram down of notes secured to vehicles in limited circumstances.
More on Chapter 13