Chapter 13 Bankruptcy Is A Real Financial Solution
Individuals and families throughout Northwest Ohio have faced overwhelming debt in recent years. Sudden medical expenses, job loss and mortgage trouble are increasingly common. Many struggle for months before taking decisive action through bankruptcy.
You may worry that bankruptcy will liquidate your assets. That is not typically the case. If you qualify for Chapter 13 bankruptcy, your debts can be reorganized into a court-approved repayment plan. This allows you to retain ownership of your home and other valuable assets while making manageable monthly payments.
Put An Experienced Attorney’s Experience To Work For You At Kristen A. Stanton, Attorney at Law
Kristen A. Stanton, a seasoned attorney and advocate for financial recovery, helps clients fight foreclosure, wage garnishment and creditor actions. The bankruptcy process may seem daunting, but most clients are surprised by how straightforward and effective it is.
All decisions remain in your hands. Kristen never pressures clients into uncomfortable situations. Her role is to listen, explain your options and provide actionable steps to resolve your financial challenges.
What Chapter 13 Bankruptcy Can Do For You
Chapter 13 bankruptcy offers meaningful relief for individuals with steady income. It can do the following:
- Provide an affordable repayment plan, after which remaining eligible debts will be discharged
- Stop foreclosure and repossession
- Halt wage garnishment and debt collection lawsuits
- Consolidate debts into one monthly payment
- Protect nonexempt assets from liquidation
- Reduce or eliminate unsecured debt
- Prevent creditor harassment
- Help you catch up on mortgage or car payments
Unlike Chapter 7, Chapter 13 does not require that your income or assets be below a certain threshold to qualify.
The Chapter 13 Bankruptcy Process
Chapter 13 is governed primarily by federal law and, for those in Northern Ohio, is handled by the U.S. Bankruptcy Court for the Northern District of Ohio. The bankruptcy trustee reviews your income, assets and debts to evaluate the proposed repayment plan, which the court must approve. Plans typically last three to five years and allow you to retain property while resolving outstanding financial obligations.
Help Is Just A Phone Call Away
Work with an experienced bankruptcy lawyer to take control of your financial future. If you live in Henry or Williams County, call 888-512-6925 or contact us online to schedule a consultation at our Defiance office.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.