Cleveland Chapter 13 Bankruptcy Attorneys
Tennessee Debt Reorganization Lawyers
Chapter 13 bankruptcy allows you to reorganize your debt, creating a payment plan that makes sense based on your income. The duration of the plan is typically three to five years, meaning you will receive additional time to pay off your debts, and typically at a substantially lower interest rate. Because the plan is based on your income, it is possible that not all of your debts are paid off during the process. However, all unsecured debts, including credit card debt, remaining will be eliminated at the end of the repayment period.
There is no risk of losing property when you file Chapter 13. All debts, secured and unsecured, can be worked into your plan. The only thing you lose is your debt. Along the way, it stops home foreclosure, car repossession, bank levies, wage garnishment and creditor harassment.
Courteous and Confidential Representation Through the Entire Process
At the bankruptcy law firm of Richard Banks & Associates, we have been helping people throughout Tennessee and North Georgia overcome debt since 1974.
When you choose our law firm, your case will be led by board-certified bankruptcy specialist Richard L. Banks. This is your proof that you are in good hands, because board certification is granted only to those attorneys who have dedicated their careers to bankruptcy and demonstrated that they understand all of the nuances of this complex area of the law.
The Chapter 13 Plan Is Not Set in Stone
Chapter 13 bankruptcy is voluntary, meaning that you can opt out of it at any time. For example, if you experience an increase in income and no longer need to continue with the plan, you do not have to. Similarly, if you experience a decrease in income and are no longer able to make the payments established in your plan, you could move forward with a Chapter 7 instead in order to achieve a fresh start and repair your credit.
Learn more at our Chapter 13 practice center.
Contact Us for a Free Initial Consultation
Have you been turned down for a loan, waking you up to the fact that your debt-to-income ratio has gotten out of hand? Call us toll free at 866-596-8527, or send us an e-mail to talk about debt relief with an experienced Cleveland Chapter 13 bankruptcy lawyer.