Lansing Chapter 13 Bankruptcy
Have you fallen into debt so deep that it’s hard to imagine getting out? Our Chapter 13 Bankruptcy Attorneys at the Debt Relief Legal Clinic can help you see the light at the end of the tunnel. The goal of Chapter 13 is to enable people in debt that are receiving an income a debt rehabilitation provided they fulfill a court-approved plan. This is in contrast to the goals of Chapter 7 Bankruptcy, which offers immediate and complete relief of many oppressive debts. It is a form of debt consolidation.
Under Chapter 13, the debtor proposes a plan to pay his creditors over a 3- to 5-year period. This written plan details all of the transactions (and their durations) that will occur, and repayment according to the plan must begin within thirty to forty-five days after the case has started. During this period, your creditors cannot attempt to collect on the individual’s previously incurred debt except through the bankruptcy court. In general, the individual gets to keep his property, and his creditors end up with less money than they are owed.
You may have some questions regarding filing for Chapter 13 Bankruptcy. You can find frequently asked Chapter 13 Bankruptcy questions here. Attorneys Kristen Krol and Gregory Smith provide legal service for bankruptcy and debt relief issues to all individuals and businesses in greater Lansing and Michigan. For any other questions regarding a Chapter 13 Bankruptcy, call our bankruptcy attorneys at Debt Relief Clinic today at (517) 321-6804 for an initial office consultation, or contact us by email here.