Stopping Foreclosure and Repossession in the Bankruptcy Process
Bankruptcy is a viable means to work through extremely difficult financial problems. Depending on your circumstances, certain types of bankruptcy may make more sense. If you own a home and do not want to lose it to repossession, or if you have a regular income and simply need to repay some or all of your debts, Chapter 13 may be right for you.
If you are in the midst of financial turmoil and are considering filing for bankruptcy, it is critical to get the right bankruptcy lawyer. Your bankruptcy lawyer should have a full understanding of the bankruptcy laws and how they apply to your situation. The law firm of Minnillo & Jenkins, CO. LPA, has helped people throughout Columbus, Dayton and Cincinnati and the surrounding areas of Ohio get debt relief through the bankruptcy process.
In Chapter 13 bankruptcy, you repay your creditors over a three- to five-year time frame. You repay your secured creditors, such as your mortgage lender or the holder of your automobile loan, in full. You pay your unsecured creditors, debts such as your credit cards and medical bills, some portion of what they are owed. At the conclusion of your payment plan, any remaining unsecured debts are discharged.
Chapter 13 is very useful for people who have fallen behind on their mortgage and want the opportunity to catch up. Chapter 13 is also a positive option for people who have significant assets that may be subject to liquidation in Chapter 7 bankruptcy. Chapter 13 is also an option for people whose incomes exceed the state median income levels. Chapter 13 also offers a measure of flexibility. If, during your payment plan, you find you are unable to continue making payments, it may be possible to convert your Chapter 13 bankruptcy to a Chapter 7 bankruptcy.
Contact the Columbus Chapter 13 Bankruptcy Attorneys of Minnillo & Jenkins
When you work with our law firm, we will think strategically and plan to help you achieve maximum debt relief. Call our Columbus office at 614-500-4755 or e-mail our law firm today to schedule your free initial consultation.
We are a law firm and a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
