Chapter 13 bankruptcy is known as debt consolidation or adjustment. In this process, you’re given a debt repayment plan to pay back some or all of your creditors. Instead of the overwhelming payments you had previously, your new payment amount can be based on your income and living expenses.
If you’re behind on your house or car payments and you are unable to catch up, Chapter 13 bankruptcy may be for you. Your debt may not be discharged entirely, but it may be lowered. After three to five years, your remaining unsecured debt may also be discharged.
If you’re looking to reorganize your debt for more manageable payment options, allow Attorney Hawkins to step in and sort through all the documents for you. He’ll know exactly what documents must be filed and approved. Many people think they can file for bankruptcy by themselves, but this can result in the wrong documents being filed and your case could be dismissed. If you need to file for Chapter 13 bankruptcy, trust the best in the business; trust Daniel L. Hawkins, PA. Our office provides our services throughout Burlington, NC and beyond.