Chapter 13
Helping you repay your debts over time without losing your hard-earned assets
Chapter 13 Bankruptcy Attorney In New Orleans, Louisiana
What Is A Chapter 13 Bankruptcy?
If you're struggling with your house or car payments, Chapter 13 bankruptcy could be a solution for you. It can halt foreclosure on your home, aid in retaining your vehicle, and may even reduce your vehicle payments. There is a chance that you could qualify for a plan where you only need to settle a portion of your debt but still maintain ownership over all your assets - your home and car included. Even if you're laden with overdue parking tickets and had your driver’s license revoked, filing for Chapter 13 bankruptcy may help get your license reinstated. To gain the most from Chapter 13 bankruptcy, you'll need support from a well-informed bankruptcy lawyer. Ron Adams, based in New Orleans, Louisiana, maintains a strong record of successfully guiding clients through Chapter 13 proceedings. Allow Ron Adams to assist you in working towards a positive outcome. To understand how he can help, schedule an appointment today.
Call Law Office of Ron C. Adams at 985-315-2620 to schedule a consultation with a lawyer today.
How Do I Qualify for a Chapter 13 Bankruptcy?
First of all, it's important to have a steady income, sufficient to manage regular payments as required by the court. This income can be derived from various sources like Social Security or disability benefits, unemployment payment, retirement benefits, or even income from rent. However, individuals who are engaged in stock or commodity trading are not eligible for Chapter 13 bankruptcy, as are corporations. On the other hand, sole proprietors, such as self-employed individuals, could be eligible if their debts fall within certain specified criteria. It's important to note also that if your debt spans a period of more than three to five years, you may qualify, provided a means test to determine your eligibility is passed. Ron Adams, a seasoned legal professional in Louisiana, can evaluate your situation before you file to help you determine if Chapter 13 bankruptcy is in your best interest. To initiate the process, reach out to Ron Adams as soon as you can.
What Happens During a Chapter 13 Proceeding?
First, confirming your eligibility is crucial, which is achieved through the means test mentioned prior. If you qualify, taking the Chapter 13 bankruptcy route with Ron Adams in Louisiana will halt any pending foreclosures, wage garnishments, repossessions, lawsuits, or other harassment from your creditors. You'll be assisted in crafting a repayment strategy, but it's important to have court approval for this plan. The court checks for your sincerity in proposing the plan and makes sure your unsecured creditors receive no less than what they would've with a Chapter 7 filing. Plus, your payments should encompass all your disposable income – this includes any income not used for your sustenance and maintenance. Although it's a multifaceted process, having a seasoned bankruptcy lawyer like Ron Adams accompany you ensures your navigation through the process is smooth and successful. To commence, you can contact Ron Adams' office in Louisiana today.
Disclaimer: We are a debt relief agency. We are attorneys who help people file for bankruptcy relief under the bankruptcy code.
Have Questions?
Call Law Office of Ron C. Adams at 985-315-2620 today to speak to an attorney.