Mesa Chapter 13 Bankruptcy Lawyers
Benefits Of Filing For Chapter 13 in Mesa, Arizona
Filing for bankruptcy in Mesa, Arizona? Call our Mesa Chapter 13 Bankruptcy Lawyers a they can be of great assistance, filing for bankruptcy protection effectively stops actions such as wage-garnishment, repossession and home foreclosure. When debts go unpaid, creditors sometimes seek a judgment to begin wage garnishment. This means that a portion of your wages will go directly to repaying the creditor. Oftentimes this creates severe problems for debtors because they lose the ability to allocate their budget according to their priorities. Immediately upon filing for Chapter 13, wage garnishment ceases and creditors are relegated to receiving payments through the restructuring plan.
Perhaps most significantly, filing Chapter 13 bankruptcy in Mesa, Arizona offers individuals an opportunity to save their homes from foreclosure. By filing under this chapter, individuals can stop foreclosure proceedings and may cure delinquent mortgage payments over time. However, they must still make all mortgage payments that come due during the Chapter 13 plan on time. Another advantage of Chapter 13 is that it allows individuals to reschedule secured debts, other than a mortgage for their primary residence, and extend them over the life of the chapter 13 plan. Doing this may lower the payments.
Filing for Chapter 13 Bankruptcy in Mesa, Arizona
Filing for Chapter 13 bankruptcy in Mesa, Arizona is a reorganization payment plan for individuals, some with higher income levels, or others who want to keep their homes, or restructure their car or mortgage loans. Thus, filing chapter 13 has it’s benefits and allows people to save their homes and rid themselves of their debt.
Our Mesa Chapter 13 Bankruptcy Lawyers at My AZ Lawyers in Mesa, AZ, is focused on helping clients file for Chapter 13 bankruptcy and explore other debt solutions in attempt to secure their future. If filing Chapter 13 bankruptcy is something that may be beneficial to you or your family, do not hesitate to contact our Mesa Chapter 13 Bankruptcy Lawyers at (480) 833-8000 or contact us on-line for a free consultation either in office or by phone.
Chapter 13 bankruptcy in Mesa restructures your debt into a three- to five-year repayment plan, with the potential to restructure outstanding loans and tax debts, reduce mortgages, and keep and rebuild retirement plans.
Individuals with excessive back taxes and child support can also benefit from Chapter 13. These debts are not dischargeable under Chapter 7 but can be reworked with under Chapter 13. Chapter 13 allows debtors to eliminate interest and penalties and create a manageable payback plan. Debtors can make payments on unpaid taxes and child support over a five year period under Chapter 13. Contacting our Mesa Chapter 13 Bankruptcy Lawyers and restructuring debt in this manner, debtors can fulfill their financial obligations.