Repayment

Filing Bankruptcy and the Chapter 13 Repayment Plan Option

You spent time deciding on your family home. It has become a part of your family history because it is tied to the memories that you made in the house. When your home is in jeopardy because of mounting credit card bills or other debt, you need to explore your options to protect and save your home. Our attorneys can help you find the solution you seek.

At Atlas Consumer Law, we provide our clients with the information they need to make educated decisions about their lives. We know the law. We understand that it takes an experienced professional who has seen the full range of debt relief in order to find the best solution. Our lawyers will provide you with options and help you to choose the best one for your situation. Located in Lombard, Illinois, we represent clients in Chicago and the surrounding areas.

Contact our law firm to discuss Chapter 13 bankruptcy and how it can help you to save your home. Call us at (312) 313-1613.

Chapter 13: Are You Sure You Want a Repayment Plan Option?

In a Chapter 13 repayment plan option, often individuals come to the bankruptcy multiple payments behind in their mortgage. For example, Blake and Crystal* were five payments behind in their mortgage. A Chapter 13 repayment plan divides arrears by 60 (which represents the number of months in five years) and adds that amount to the mortgage payment.

As a law firm, we generally steer our clients away from this type of repayment plan. Why? We find that they fail more often than not. After all, if you could not afford your payments prior to the plan, why will you be able to afford them after more has been added? Do you really want to remain in negative equity for five years?

As your attorney, we will help you to analyze these situations and find the best solution to your debt. We will not shield you from the truth. We will show you each strategy and help you find one that will get you back on your feet. Put our experience to work for you.

We want to emphasize that this type of bankruptcy is really for individuals who believe that their financial circumstances will improve. It is for people who have short-term problems who can recover from their financial circumstances.

*Blake and Crystal are fictitious characters created for the purposes of explaining and illustrating various bankruptcy situations.

Our Chicago bankruptcy attorneys work with our clients to help them through this difficult time. We offer experience, professionalism and attention to detail in all of our cases. Contact us online or by calling (312) 313-1613.

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Reviews & Testimonials

At Atlas Consumer Law, your satisfaction is our priority! See for yourself what our clients have to say about working with us.

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Everyone at Atlas was so willing to help and so responsive. I'm so grateful for the work they put in on my case! Would highly ...

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THEY GOT RESULTS FAST FAST FAST!!!

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Atlas consumer Law is amazing and they have the CAN DO attitude and will do anything to get the job done.. I highly recommend ...

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The Atlas Consumer Law Group is Awesome. They promptly took care of my issue with a creditor who tried to ignore my rights as ...

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I am absolutely AMAZED at this law group! I started a case in March and got it solved in early May! The debt collector was ...

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Atlas helped us within 6 months more or less and they were an awesome team. I would definitely recommend Atlas Consumer Law ...

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When you need the law on you side call Atlas!

- Arlene B.

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