CHAPTER 13 BANKRUPTCY IN CHARLOTTE NC
Many people filing for bankruptcy are worried that they won’t qualify to eliminate all of their debts. The not-so-good news is that not everyone qualifies for Chapter 7 bankruptcy. The good news is that Chapter 13 bankruptcy is available for nearly everyone and is often a better option for greatly reducing or eliminating your debt. The best news is that Chapter 13 allows you to restructure all of your debt into an affordable multiyear repayment plan that can save you thousands of dollars in loan principal and interest payments.Under Chapter 13 of the U.S. Bankruptcy Code, you would agree to lump all your debt payments into a restructured plan that will be supervised by a bankruptcy trustee. I will negotiate the terms of the amount of debt to be included in the restructure, which may be reduced from the full amount owed on the credit card or consumer loan. In most cases, your repayment period is between three and five years. At the successful conclusion of the plan, your remaining debt is wiped clear. In most cases, the total monthly payment will be significantly less than the combination of monthly payments the individual or family may be paying to various creditors.
Free Consultation To Learn More About Getting The Fresh Start You Need
If you need a fresh start from debt, turn to Blossom Law PLLC for help. I am attorney Rashad Blossom. I come from the same hardworking middle-class family background as most of my clients. I understand the frustrations of paying bills month after month, but never getting ahead. I opened my law firm in order to give people an even break they need and deserve against banks and corporations.
From offices in Charlotte, I represent individuals and families in communities throughout Mecklenburg County and surrounding counties. Call to arrange a free consultation with an experienced Charlotte Chapter 13 bankruptcy attorney today.
The Benefits Of Chapter 13 Over Chapter 7