Stop Creditors From Calling
Get A Fresh Start
Feel In Control Of Your Future
Despite being overwhelmed by debt, many people feel anxious and embarrassed about admitting that they need help and put off filing for bankruptcy for longer than they should…
Are You Experiencing Any Of These?
Why Choose Us?
Your Debt Free Success Plan
Our 3 Step Plan To Erasing Your Debt In 5 Months Or Less
A chapter 13 bankruptcy, also known as a wage earner’s plan, is a helpful tool that enables individuals with regular income to develop a plan to repay all or part of their debts. Under this chapter, debtors propose a repayment plan to make installments to creditors over a period of three to five years. If your current monthly income is less than the applicable state median, your plan will be for three years unless the court approves a longer period “for cause.” (1) If your current monthly income is greater than the applicable state median, the plan must generally be for five years. In no case may a plan provide for payments over a period longer than five years. During this time, creditors are prevented by law from starting or continuing collection efforts.
Advantages of Chapter 13
Chapter 13 offers individuals many advantages over liquidation under chapter 7. The most significant advantage is that chapter 13 offers individuals an opportunity to keep their homes safe and protect them from foreclosure. By filing under this chapter, individuals can pause foreclosure proceedings and may cure delinquent mortgage payments over time. However, they must still make all mortgage payments due during the chapter 13 plan on time. Another advantage of chapter 13 is that it allows individuals to reschedule secured debts (other than a mortgage for their primary residence) and extend them over the life of the chapter 13 plan. This can help lower payments. Chapter 13 also has a special provision that protects third parties who are liable with the debtor on “consumer debts.” This provision may protect co-signers. Lastly, chapter 13 acts like a consolidation loan under which the individual makes the plan payments to a chapter 13 trustee who then distributes payments to creditors. Individuals will have no direct contact with creditors while under chapter 13 protection.
Your choices are clear...
You can put off filing for bankruptcy relief and continue to struggle with making minimum payments for years until your debt is finally paid off. Combine that with years of family stress that will come from being responsible for your debt, and it’s a recipe for a miserable existence. No one should have to experience those feelings with the resources that are available to them.
We help good people get out of debt today so they can start their new tomorrow.
At New Tomorrow Law we know you are a good person who simply wants to be free from debt and get a fresh start.
In order to get your fresh start you need someone who is going to help you get there in the fastest time possible. The problem is many people put off filing for bankruptcy because of the false belief that their bankruptcy will become common knowledge among friends and family, which makes them feel like a failure. We believe that it is just plain wrong for families to be torn apart over money worries. We understand how stressful it can be to feel like you are suffocating under the weight of your debt. That’s why we are putting all of our years of legal expertise to work for you to get a fresh start after bankruptcy.
Here’s how it works:
Step 1 – Schedule Your Free Consultation
Step 2 – We’ll Develop Your Repayment Plan
Step 3 – You’ll Start Living Life Again, Worry Free.
Schedule your free consultation now, so you can stop the bill collectors from calling and start living your life again, worry free.