Step-Up Plans

Chicago Bankruptcy Attorneys: Chapter 13 Step Up Plans

In a typical Chapter 13 bankruptcy, the debtor pays one fixed amount to the trustee every month for five years. Many Chapter 13 plans fail because a lot can happen in five years, yet there is almost no wiggle room for unexpected expenses or hardships.

A Chapter 13 step-up plan allows debtors to pay a smaller amount at the beginning and gradually ramp up the monthly payment as life stabilizes and income increases. The experienced bankruptcy lawyers of Atlas Consumer Law can help you customize your Chapter 13 petition to put you in the best position for escaping from debt.

Our experienced Chicago bankruptcy lawyers represent individuals and couples throughout Illinois. Contact us online or by telephone at (312) 313-1613.

Chapter 13 Step-Up: Making Bankruptcy Affordable

The purpose of Chapter 13 bankruptcy is to help hard-working people bridge the gap when debts and hardships outpace earnings and expenses. Our core clients are professionals, business owners, executives and other high earners who need relief from foreclosure and other creditor actions.

A Chapter 13 step-up plan anticipates that your current income will grow moderately or substantially over the next five years. The initial payments are often 20 to 30 percent less so that you can afford the plan payments and have some left over to "live a little" and build up your reserves for the inevitable unforeseen expenses that throw your budget out of whack.

Bill and Melinda* upgraded from their Downer's Grove townhouse to a house in Oak Park, Illinois, to make room for the baby. They are squeezed by the mortgage, grad school loans, $53,000 in credit card debt and $22,000 in unexpected medical bills. However, Bill is fast-tracked for senior management and Melinda should make tenure within two years. Their modified Chapter 13 payments will start at $700 a month, then step up to $900 in the third year and $1,100 in the fifth and final year.

(A Chapter 13 can also be structured to "step down" in anticipation of a scheduled layoff, maternity leave, business liquidation or other expected decrease in income.)

Customize Your Illinois Bankruptcy Plan

Don't get trapped by high Chapter 13 payments that force you to live like a miser. Talk to the knowledgeable Lombard bankruptcy lawyers of Atlas Consumer Law about how to structure your case for immediate relief and long-term success.

*Bill and Melinda are fictitious characters created for the purpose of illustrating bankruptcy scenarios.

Contact Atlas Consumer Law online or call (312) 313-1613 to arrange a consultation.

Hear From Our Satisfied Clients

Reviews & Testimonials

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

"I was so stressed out, found Atlas Consumer Law & gave them a call!"
I had absolutely NO exceptions going forward with my lawsuit against a company that harassed me for payment! I was at the ...

- Pam S.
"So Helpful & Responsive!"
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 ...

- Stephanie M.
"Results Fast!"
THEY GOT RESULTS FAST FAST FAST!!!

- Jake B.
"Can Do Attitude All the Way!"
Atlas consumer Law is amazing and they have the CAN DO attitude and will do anything to get the job done.. I highly recommend ...

- Donnie P.
"Thank you for educating me about my rights as a consumer!"
The Atlas Consumer Law Group is Awesome. They promptly took care of my issue with a creditor who tried to ignore my rights as ...

- Belinda W.
"Absolutely Amazing!"
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 ...

- Aline G.
"Atlas Consumer Law Goes Above & Beyond!"
Atlas helped us within 6 months more or less and they were an awesome team. I would definitely recommend Atlas Consumer Law ...

- Llyod G.
"Atlas Consumer Law is on Your Side!"
When you need the law on you side call Atlas!

- Arlene B.

View All Reviews

Meet Our Team

View All Staff

Contact Us Today!

Talk to the leading law firm in the country about your rights for free! Fill out the form below or give us a call at (312) 313-1613 and we would be happy to give you the answers you need to make informed decisions for yourself and your family.

*First Name
Please enter your first name.
*Last Name
Please enter your last name.
*Phone
Please enter your phone number.

This isn't a valid phone number.
*Email
Please enter your email address.

This isn't a valid email address.
*I am...
Please make a selection.
*Are you a new client?
Please make a selection.
*How can we help you?
Please enter a message.
- By submitting your information or contacting Sulaiman Law Group, Ltd., and/or Atlas Consumer Law ("the firms"), you consent to receive automated communications, including autodialed calls, pre-recorded messages, texts, and emails from the firms, their agents, assignees, affiliates, or any affiliated parties. This consent applies to all contact details you provide, as well as to future communication technologies. Using the internet or other methods to communicate with the firms does not establish an attorney-client relationship; therefore, avoid sharing confidential information through these channels. Please note that all calls may be recorded for quality assurance and training purposes. To opt-out of communications, reply with "STOP" to any text message, click the "unsubscribe" link in any email, or send a written request to the firm's mailing address. Your continued interaction with the firms signifies your acceptance of these terms. You agree to indemnify the firms against any claims arising from the use of these communication methods. The firms are not liable for any communication failures. Disputes arising under this agreement are governed by Illinois law, with jurisdiction exclusively in the courts of DuPage County, Illinois, or the nearest federal district court. These terms are subject to change, and your continued communication with the firms implies your agreement to any such changes. If any part of this agreement is found invalid, the remaining sections will remain effective. This agreement is in compliance with the Telephone Consumer Protection Act (TCPA) and applicable state laws.
  Please read and agree to disclaimer.