Law Office Of Jeffrey J. Courtney
Call our office: 334-521-1454
Law Office Of Jeffrey J. Courtney
334-521-1454

Helping Clients Overcome Personal And Legal Challenges

Overcoming Personal and Legal Challenges

Seeking Debt Relief In Elmore County With A Chapter 13 Bankruptcy Lawyer

When the bills are piled up and you are facing the reality that your income can’t cover your debts, it can be difficult not to panic. If you are struggling with overwhelming debt, Chapter 13 bankruptcy might be a viable option for you.

At the Law Office of Jeffrey J. Courtney, LLC, our Chapter 13 bankruptcy lawyers are passionate about helping clients throughout the Wetumpka and Elmore County communities find the right debt relief solutions for their specific financial situation.

What Is Chapter 13 Bankruptcy?

Chapter 13 bankruptcy, often referred to as a “wage earner’s plan,” allows you to reorganize your debts. Part of this reorganization plan includes coming up with a repayment plan that is feasible for your income. Unlike Chapter 7 bankruptcy, which involves liquidating assets, Chapter 13 lets you keep your property while you focus on repayment of your debts. Chapter 13 bankruptcy can be a viable debt relief option if you have a steady income and wish to protect your assets from foreclosure or repossession.

When Is Someone Eligible For Chapter 13 Bankruptcy?

To qualify for Chapter 13 bankruptcy, you must have a regular income that allows you to meet the obligations of a repayment plan. Additionally, your unsecured debts must be below a certain threshold, and your secured debts must not exceed another specified limit. Our bankruptcy lawyers can help you determine your eligibility by reviewing your financial situation and guiding you through the necessary steps to file for Chapter 13 bankruptcy.

How Is The Payment Amount Determined In A Chapter 13 Bankruptcy Filing?

The payment amount in a Chapter 13 bankruptcy filing is based on several factors, including:

  • Your income,
  • Your expenses
  • The total amount of debt you owe

The court also considers your disposable income, which is the income left after essential expenses, in order to determine how much you can afford to pay each month. A Chapter 13 bankruptcy lawyer will work with you to ensure that your repayment plan is fair and achievable, taking into account your unique financial circumstances.

How Long Are You On A Payment Plan With A Chapter 13 Bankruptcy Filing?

The duration of a Chapter 13 payment plan typically ranges from three to five years. The length of your plan depends on your income level and the amount of debt that you owe. If your income is below the state median, you may qualify for a three-year plan. However, if your income exceeds the median, you might be required to complete a five-year plan. An experienced Chapter 13 bankruptcy lawyer can help you understand the specifics of your payment plan and support you throughout the process.

Consult A Wetumpka Chapter 13 Bankruptcy Lawyer

At the Law Office of Jeffrey J. Courtney, LLC, our bankruptcy lawyers offer an initial consultation and case evaluation for free. During this appointment, you can ask questions and we can help you assess your situation and suggest next steps. To schedule an initial consultation, you can contact us by calling 334-521-1454 or by sending an inquiry through our website. We want to help you overcome your financial challenges and achieve lasting stability.

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