Sypher Law Firm, LLC
Attorney & Counselor at Law

Chapter 13 Bankruptcy

Chapter 13 bankruptcy is known as a wage earner's plan. If you have a regular income, Chapter 13 bankruptcy may allow you time to develop a plan to repay all or part of your debts. Under this chapter, you may propose a repayment plan to make installment payments to creditors over three to five years. If your monthly income is less than your state's median income, the payment plan will be for three years unless the court approves a longer period. If your monthly income is greater than your state's median, the payment plan generally must be for five years. During the repayment period, the law forbids certain creditors from starting or continuing collection efforts.

The Advantages of Chapter 13 Bankruptcy

Chapter 13 may offer you an opportunity to save your home from foreclosure. By filing under this chapter of the US Bankruptcy Code, you may be able to stop foreclosure proceedings and resolve delinquent mortgage payments over time. However, you must still make all mortgage payments on time that come due during the Chapter 13 payment plan.

Another advantage of Chapter 13 is that it allows you to reschedule secured debts (other than a primary-residence mortgage) and extend them over the life of the Chapter 13 plan. Doing this may lower the payments for those debts.

Chapter 13 also has a special provision that protects third parties who are liable with you on "consumer debts." This provision may protect those who have co-signed on your debts.

A knowledgeable lawyer can be an important asset as you consider filing for Chapter 13 bankruptcy. Attorney Sarah A. Sypher's practice is limited to bankruptcy law. She has the experience that can help you face bankruptcy with confidence.

Contact the Sypher Law Firm, LLC, for a free initial consultation and evaluation of your case.

We are a debt relief agency. We proudly help people file for bankruptcy relief under the Bankruptcy Code.

Sypher Law Firm, LLC
10955 Lowell Avenue
Suite 630
Overland Park, KS 66210
phone: 913-451-8833
fax: 913-451-8843

Sypher Law Firm, LLC, handles bankruptcy cases throughout Kansas and Missouri, including Overland Park, Coffeyville, Fort Scott, Kansas City, Leawood, Lenexa, Olathe, Shawnee, Independence, Blue Spring, Kansas City, Lees Summit, Raytown, St. Joseph, Johnson County, Allen County, Anderson County, Bourbon County, Coffey County, Franklin County, Leavenworth County, Miami County, Woodson County, Wyandotte County, Jackson County, Caldwell County, Carroll County, Cass County, Clay County, Clinton County, Lafayette County, Platte County, and Ray County.

The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation.

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