Spokane Chapter 13 Bankruptcy Lawyer

Not everyone who is overwhelmed by debt is without income. Many people find themselves facing debts that they cannot repay given their current financial situation. Chapter 13 bankruptcy offers people in such situations a means of reorganizing their debts into a manageable payment plan which leads to the fresh start they deserve.

Under Chapter 13 bankruptcy, an individual's or family's debts are reorganized into a repayment plan that generally lasts between three and five years. In most circumstances, the amount paid to creditors during the repayment plan period is based on what is affordable rather than on the amount owed. At the end of the repayment period, any remaining dischargeable debts are discharged. In practical terms, this means that the amount repaid is rarely the full amount owed.

Chapter 13 bankruptcy offers very real benefits to those facing looming financial crises, such as:

  • Foreclosure – The automatic stay of Chapter 13 puts an immediate halt to all collection activities, including foreclosure. The repayment plan allows people to catch up on late mortgage payments and bring their mortgages current.
  • Repossessions – Again, the automatic stay halts all collection activities such as repossession. The repayment plan can allow you to become current on vehicle loans.
  • Garnishments – The automatic stay is the only way to stop wage and bank garnishments.

Helping You Make Informed Financial Decisions

At Sheppard Law Office, PC, we are dedicated to helping our clients find the brighter financial future they deserve. We know how easy it has been during the recent recession for even those with steady income to fall behind on bills. Once a downward financial spiral begins, it can be almost impossible to escape without experienced guidance helping you make the right decisions for you and your family.

Contact The Spokane Chapter 13 Bankruptcy Lawyer Of Sheppard Law Office, PC

You do not have to suffer under the weight of oppressive debt. Learn about how Chapter 13 bankruptcy can help you get the fresh start you deserve. To schedule a free initial consultation with our Spokane Valley foreclosure defense attorney, call 509-368-7620 or toll free at 866-440-6653, or simply contact us online.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.