Also referred to as a repayment plan, a Chapter 13 Bankruptcy allows individuals time to reorganize their affairs while under the protection of the bankruptcy court so that they can pay off their debts in a manner that can be accommodated by their resources and income. Our law firm helps residents of Washington DC Metropolitan area including Maryland and Northern Virginia facing a tough financial situation to explore various bankruptcy options. We have helped hundreds of our clients to use Chapter 13 Bankruptcy and get the time needed to reorganize their finances.
The Law Office of Rowena N. Nelson is one of the leading Chapter 13 bankruptcy law firms in Maryland, DC and Northern Virginia. We have the requisite experience to help navigate our clients sail through the complex process of bankruptcy filing.
Contact us to understand how best to manage your assets when filing for a Chapter 13 bankruptcy. Book your 30 minute bankruptcy consultation and explore various options to manage your debts and protect your assets.
4 Extra Advantages in Chapter 13 Bankruptcy
A Chapter 13 bankruptcy allows individuals with a regular source of income to chalk out a plan that allows then to repay all their debts within a period of three to five years. Creditors are not allowed to make any collection efforts during this period.
It also allows the debtor to protect some or all of their assets depending upon the details of their situation.