On Behalf of developers | November 26, 2024 | Uncategorized
If you’re in debt over your head, it may feel like there’s no end in sight. Yet when it comes to debt, there is always a light at the end of the tunnel! Filing for Chapter 13 bankruptcy in Mississippi can be a lifeline that brings hope and restores a financial future for families and individuals struggling with debt. If you live in Mississippi and are considering filing for Chapter 13, call upon the expertise of a trusted local bankruptcy attorney. Pond Law Firm has the experience, knowledge, and compassion to guide you through the entire process while protecting your best interests.
What happens to debt when you file Chapter 13? Unlike Chapter 7 bankruptcy, Chapter 13 is known as the reorganization bankruptcy because it allows you to negotiate with creditors and develop a manageable repayment plan to absolve your debts. If you have a regular income, you can pay off debt over a span of three to five years. You’ll have a designated court-appointed trustee who will oversee an affordable payment plan where your debt is consolidated into a single monthly payment. The good news is that you don’t have to come up with a repayment plan on your own. The courts and your court-assigned trustee will work with your bankruptcy lawyer to examine your financial standing and debts. After negotiating with your creditors and determining remaining debt, a payment schedule will be determined on your behalf.
Chapter 13 is so beneficial because it allows you to keep your assets like your home, car, and valuable property. You’ll also be able to eliminate qualifying unsecured debts after your repayment plan is completed so that your financial future is free and clear of debt at the end of the three to five years.
Since the bankruptcy process is new to many people going through it, chances are you’ll have many questions. After decades of being in the industry, we’ve heard it all and the benefit of working with an experienced lawyer from Pond Law Firm is that we can answer all your questions. You may be wondering, “How do I know when my Chapter 13 is over,” or, “Does Chapter 13 trustee monitor income?” Working with a bankruptcy lawyer means you’ll be fully informed for the entire journey.
Hiring a knowledgeable Chapter 13 bankruptcy lawyer from Pond Law Firm gives you many advantages in navigating the bankruptcy process. Our expert guidance helps you understand and weigh all your options in bankruptcy so that you can make a fully informed decision. Having us by your side also guarantees your best interests are represented, so that you can keep as many assets as possible. We also take care of working with your creditors and the courts to design a manageable debt repayment plan.
If you’re struggling with debt, don’t wait. Contact Pond Law Firm today for a free consultation. Our skilled local bankruptcy attorneys will help you reorganize your debt through Chapter 13, enabling you to see the light at the end of the tunnel!