“Please note: The Piatchek Law Firm, LLC is not currently taking Chapter 13 Bankruptcy cases at this time. We will update this page when we resume taking such cases. Thank you.”
At the Piatchek Law Firm, our attorneys can provide you with the expertise needed to successfully navigate the process of filing for Chapter 13 bankruptcy. This form of debt repayment is often referred to as “wage earner bankruptcy,” because any individual with a regular income may qualify. It establishes a renegotiated payment plan that allows a debtor with a reliable income to keep assets while paying off debt over a relatively long period of time.
Individuals who are currently unemployed (or receiving temporary unemployment assistance) are not eligible for Chapter 13 bankruptcy as a repayment option. However, most other sources of income, including Social Security, private disability, and retirement, can represent a regular income.
During Chapter 13 bankruptcy, your attorney will negotiate a realistic repayment plan between you and the bankruptcy court. Having an experienced attorney on your side is extremely important, because it will shape the outcome of your case and the amount of money you end up paying. A trustee will be appointed by the bankruptcy court, and the trustee (with the help of your attorney), will determine what portion of your debts can be discharged or reduced and what you can afford to pay back. After that, the trustee will create a repayment schedule. While Chapter 7 bankruptcy cases can be discharged relatively quickly, Chapter 13 bankruptcy cases can take three to five years due to the lengthy debt repayment plans.
To find out if Chapter 13 bankruptcy is the best choice for you, contact the Piatchek Law Firm today to schedule a free consultation. We can help you make a fresh start with your finances. Plus, we offer free initial consultations and flexible payment plans, and we can typically charge one flat fee to complete your entire bankruptcy case. Feel free to contact us via this website or by phone if you have any questions you would like to discuss.
In addition, if you would like a complimentary informational brochure on bankruptcy, please click here to download a copy (brought to you in cooperation with the Missouri Bar). To view all of our free legal forms and brochures, please see our “Legal Forms and Brochures” page.