Springfield Chapter 13 Bankruptcy Lawyer

Debt Relief Assistance for Massachusetts Consumers: (413) 475-9882

If you do not qualify for Chapter 7 bankruptcy, you still have the option of filing for bankruptcy under Chapter 13. This type of bankruptcy is available to both consumers and sole proprietors of small businesses. Like Chapter 11, it involves a reorganization plan that will pay off a portion of unsecured debt over time. This form of bankruptcy is a good option for those who wish to retain large assets or prevent foreclosure on a home.

To fully understand how a Chapter 13 bankruptcy filing would affect you, it is important to consult with an experienced attorney. At Morrison & Associates, I have provided legal assistance to countless individuals and business owners for more than 20 years. With 5,000 successfully resolved cases under my belt, I am extremely knowledgeable and skilled in evaluating and resolving burdensome debt and credit problems.

How Does a Chapter 13 Bankruptcy Work?

Under a Chapter 13 filing, you will be required to submit to the court a plan that details how you will make payments towards your debt, usually over a three- to five-year timespan. Your income and expenses will determine how much you will be required to pay during that time. This is generally calculated according to the “means test,” which determines your disposable income for a Chapter 7 bankruptcy as well. You will, however, be required to make regular payments on your secured debts, such as your home mortgage or car loan as well.

A Chapter 13 filing requires that you continue to have a regular income, some of which will be applied to your creditors via the repayment plan. Once you have fulfilled the terms of your Chapter 13 plan, whatever remains of your dischargeable debt will be forgiven.

Personalized Attention at Morrison & Associates

As a Chapter 13 bankruptcy lawyer, I offer personalized attention focused on meeting your objectives to relieve your burdensome debt. My approach is based on an attitude of mutual respect and communication with all of my clients. I strive to make a positive difference in the lives of those who entrust me with their financial futures.