Chapter 13 Bankruptcy

Cincinnati Chapter 13 Attorney

Why Should I File Chapter 13 Bankruptcy?

If you make too much money or have too much non-exempt equity in your property you may need to file for Chapter 13 bankruptcy.  Chapter 13 bankruptcy is an alternative to Chapter 7 bankruptcy that allows an individual or married couple to keep his or property through individual debt reorganization.  Chapter 13 is sometimes the only viable bankruptcy alternative for those individuals who make more than the median income and therefore cannot pass the means test.  A Walker & Turner, Ltd. attorney can help you determine if Chapter 13 is right for you.

How Does Chapter 13 Bankruptcy Work?

Individuals in Chapter 13 bankruptcy must pay back some, or in some cases, all of their debt over a 3 to 5 year period.  The attorneys at Walker & Turner, Ltd. will develop an individual reorganization plan that will allow you to continue to keep your house, car, and other property while at the same time paying off a percentage of your debts over the life of the plan.  Upon the successful completion of your Chapter 13 plan the bankruptcy court will issue your discharge and all dischargeable debts will be eliminated.

Will Filing A Chapter 13 Bankruptcy Save My House?

The filing of a Chapter 13 Bankruptcy will stop a foreclosure action.  You will be given the opportunity to pay back any missed payments over the portion of your Chapter 13 plan.  You may even be able to ‘cram down’ second and third mortgages on you property if those mortgages are entirely unsecure.  Cram downs can help eliminate negative equity in your home but the process if complicated.  Please call our office at (513) 232-5888 and speak with attorney Justin C. Walker today.

Chapter 13 bankruptcy can also be helpful in arranging a federal tax repayment plan with the IRS.
A Chapter 13 bankruptcy is a great option for individuals that have been temporarily disabled, or lost their jobs.

How do I get started?

Call our office at (513) 232-5888 or email to set up a free consultation with attorney Justin C. Walker.