Alabama Bankruptcy Attorneys
Chapter 13 Bankruptcy
Repay your debts over 3 to 5 years

Chapter 13 gives you the opportunity to pay back a
percentage of your debts over a 3 to 5 year period.
Once your payment plan is completed, you will
receive your bankruptcy discharge.
Save your Home

Chapter 13 Bankruptcy will give you the opportunity
to make up your missed mortgage payments over a
3 to 5 year period. However, you must also
continue to make your regular mortgage payments
during this time.
Chapter 7 vs. Chapter 13

During the initial consultation, we will fully explain
the chapter 7 and chapter 13 process to you so that
you are able to make an educated decision on
which type of case, if either, is best for you.

Chapter 13 bankruptcy involves developing a plan to pay back your creditors over a 3 to 5 year period. You will remain in possession of your property during this time and your creditors will be prevented from all collection activities while you are making your payments under the plan of reorganization. Once you have completed your plan payments, you will receive your discharge.

Chapter 13 bankruptcy will provide you the opportunity to make up your missed mortgage payments during the 3 to 5 year repayment plan. You must still make all of your regular mortgage payments during this time.

Additionally, if your home is worth less than the amount owing on your first mortgage, you may be able to remove the second mortgage on your home. Many factors will have to be considered before we can determine whether your second mortgage may be able to be eliminated.


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