Chapter 13 bankruptcy is a "wage earner's" bankruptcy. This form of bankruptcy is often the right choice for people who have jobs, but are delinquent on their debt. A rather common situation is that a person has a temporary gap in income because of a medical problem, an injury at work, a divorce or a change in salary. By the time income is restored to previous levels, the person has defaulted on various payments and cannot catch up with high interest rates.
At Ambrogio, Pletter & Associates, LLC, in Stratford, Connecticut, we provide experienced assistance to people who need financial relief. Very few families have the resources to deal with a lack of income for an extended period, and we help people manage through these difficult times. Bankruptcy should be thought of as a tool for improving your life, not as something to be ashamed of.
To speak with our knowledgeable Stratford Chapter 13 bankruptcy lawyers about your financial future and debt repayment, or to learn more about what past clients say about us, schedule a free consultation at our office. Please call 203-502-7436 or contact our law firm online.
A Fresh Start On Your Finances
Chapter 13 bankruptcy allows you to file a plan proposing to pay your mortgage arrearage and other debts over a three- to five-year period. A Chapter 13 bankruptcy filing has many other benefits, including:
- Immediately halting foreclosure
- Stopping car repossession
- Reducing interest rates on credit cards, unsecured debt and mortgages
- Stopping wage garnishments
- Helping improve your credit through the use of a payment plan
- Reducing the amount of unsecured debt you owe
- Helping you cope with IRS tax debt and sewer taxes levied by the Water Pollution Control Authority
If a creditor has secured a judgment against you and has placed a lien on your house, a Chapter 13 or a Chapter 7 bankruptcy can remove that lien.
A Chapter 13 debt restructuring allows you to pay unsecured debt like credit cards, mortgage arrearages, IRS tax debt, real estate taxes, Water Pollution Control Authority taxes (sewer tax) and other types of debt, through a court-approved plan, over three to five years. Even if a foreclosure has started and even if there is a foreclosure judgment, it is not too late to save your home and avoid foreclosure through Chapter 13 bankruptcy.
Serving Stratford And Bridgeport
We can help you find the light at the end of the tunnel, help you take control of your finances and get a fresh start. To arrange your free consultation, call our attorneys at 203-502-7436 or contact us online.