The decision to declare bankruptcy is never easy. That is why Lincoln & Wenk, PLLC, provides our clients with knowledgeable counsel from experienced bankruptcy lawyers.
Our attorneys will take the time to address your concerns and thoroughly analyze your financial situation. We work to ensure you have all the information necessary to evaluate your options and select the debt relief solutions that are right for you.
Advantages To Chapter 13 Bankruptcy
A Chapter 13 bankruptcy allows you to restructure some, or even all, of your debt. Medical bills, loans and other outstanding balances are placed together in a single court-supervised repayment plan. Payments generally last three to five years, after which time all remaining debt is discharged.
As with a Chapter 7 bankruptcy, an automatic stay (stop) will be placed on your creditors immediately after you file. This prevents collection agencies from contacting you, and will halt wage garnishment and liens. Unlike Chapter 7 bankruptcy, however, reorganizing your debts under Chapter 13 bankruptcy can have several advantages:
- Placing nondischargeable debts, such as student loans and back taxes, into a manageable repayment plan
- Reducing the interest rate, fees and other penalties associated with your credit card balances
- Reducing the negative impact of bankruptcy — relative to a Chapter 7 filing — on your credit score
Bankruptcy Can Help Save Your Home
Contrary to popular belief, many individuals who file bankruptcy are able to keep their home. Chapter 13 may allow you to strip off a second mortgage, making monthly payments more manageable. All foreclosure actions will be stopped upon filing.
If your home is threatened by foreclosure, do not wait to contact one of our experienced Chapter 13 attorneys. You must file bankruptcy before the scheduled date of your home's auction.
Chapter 13 Bankruptcy Lawyers Serving Goodyear, Peoria And The Entire Phoenix Area
The lawyers with Lincoln & Wenk, PLLC, have more than 30 years of combined legal experience. We are dedicated to helping you get out of debt, and will do everything possible to assist you on the path toward a freer future. Contact us online or at 623-748-4890 for an initial consultation.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.