Chapter 13 Bankruptcy with New Tomorrow Law
What is Chapter 13 Bankruptcy?
Chapter 13 bankruptcy allows you to restructure your debts into a manageable repayment plan, typically over 3 to 5 years. It’s an excellent option for individuals who have steady income but need relief from overwhelming financial obligations.
With Chapter 13, you can:
- Catch up on missed mortgage or car payments.
- Prevent foreclosure or repossession.
- Consolidate and reduce unsecured debts like credit cards and medical bills.
- Protect your assets while repaying creditors at a rate you can afford.
How New Tomorrow Law Supports You
Free Initial Consultation
Discuss your financial situation and explore your options with our experienced team at no cost.
Comprehensive Legal Assistance
We handle all aspects of your case, including document preparation, repayment plan calculations, case filing, and court representation.
Tailored Debt Solutions
Receive a personalized approach designed to help you understand your options and navigate the path to financial stability.
Who Can Benefit from Chapter 13?
- You’re behind on mortgage or car payments but want to keep your home or vehicle.
- You need a structured way to handle tax debts or unpaid child support.
- Your income exceeds the limit for Chapter 7 bankruptcy.
FAQs About Chapter 13 Bankruptcy
Frequently Asked Questions
Chapter 13 focuses on reorganization, allowing you to keep assets while repaying creditors over time. Chapter 7 involves liquidating non-exempt assets to eliminate debt.
Priority debts such as child support and certain taxes must be paid in full, while unsecured debts and some types of taxes may be partially or fully discharged.
How does Chapter 13 differ from Chapter 7?
Chapter 13 focuses on reorganization, allowing you to keep assets while repaying creditors over time. Chapter 7 involves liquidating non-exempt assets to eliminate debt.
Will all my debts be included?
Priority debts such as child support and certain taxes must be paid in full, while unsecured debts and some types of taxes may be partially or fully discharged.
How long does the process take?
Most repayment plans last 3 to 5 years, providing enough time to regain financial stability.
Take Control of Your Financial Future
