The Wirth Law Office
Claremore Chapter 13 Bankruptcy Attorney
Unfortunately, many people find themselves under the financial stress of mounting bills which they cannot pay at some time in their life. The loss of a job, medical bills, and other unexpected occurances can causes your finances to get out of control. If this happens to you, you may consider filing for bankruptcy. If you are considering filing for bankruptcy in the Claremore, Oklahoma area, the Chapter 13 Bankruptcy attorneys of The Wirth Law Office can advise you on how to proceed with your bankruptcy filing.
There are several chapters of the United States Bankruptcy Code under which one can file for bankruptcy. Most consumer debtors choose to file for bankruptcy under either Chapter 7 of the bankruptcy code or Chapter 13 of the bankruptcy code. Filing for Chapter 7 bankruptcy allows a debtor who cannot pay his or her debts the opportunity to discharge his or her unsecured debts. Chapter 13 bankruptcy differs from Chapter 7 bankruptcy in that, a Chapter 13 filing allows a debtor with sufficient regular income to pay his or her debts over time.
What is the Purpose of Filing a Chapter 13 Bankruptcy
Filing for a Chapter 13 bankruptcy will stay your creditors for a certain length of time giving you a chance to pay off and discharge your debts while retaining your assets. The debtor filing the Chapter 13 bankruptcy action files a repayment plan with the court. If the court approves the repayment plan the debtor has three or five years to pay the debts according to the plan. After the payments are made and the payment plan is satisfied, most debts are discharged. Debts such as child support, spousal support, student loans, criminal fines, and taxes, however, are not discharged in a Chapter 13 discharge of debt. To be eligible for a Chapter 13 bankruptcy filing, you must have regular income, and there is a limit to the amount of unsecured debt or secured debt you may have. A Claremore Chapter 13 bankruptcy attorney at The Wirth Law Office can help you determine if you qualify to file a Chapter 13 bankruptcy action and if it is right for you.
What the Wirth Law Office Can Do for You
If you are considering filing for bankruptcy, it is important for you to understand everything that filing for bankruptcy entails as well as how it will affect your financial future. The Claremore Chapter 13 bankruptcy attorneys of The Wirth Law Office can explain to you the entire process of filing for bankruptcy and whether or not it is right for you. Furthermore, they can help you understand whether a Chapter 13 bankruptcy filing is best to suit your needs, as well as other chapter and financial options you and your family may want to consider such as debt consolidation and debt settlement.
Contact the Wirth Law Office for Your Free Consultation
If you are considering filing a Chapter 13 debt relief action or believe that it may be right for you, the Claremore Chapter 13 bankruptcy attorneys of The Wirth Law Office can help you through the process to obtain the results you desire. Contact The Wirth Law Firm at 918-213-0950 to schedule your free consultation.