Experienced Legal Assistance for Your Case
At Wisehart Law, PC, we provide knowledgeable legal services to clients facing bankruptcy. If you are struggling under a debt burden and want to understand your options for filing bankruptcy, we will personally talk with you and answer your questions. Bankruptcy may feel like a last resort, but it can help you regain financial stability. Whatever your situation, we will use our experience as Canby bankruptcy lawyers to help you seek a favorable outcome. Call today at (503) 850-2992 to schedule a no-cost case evaluation.
Understanding Chapter 13 Bankruptcy
Chapter 13 bankruptcy can provide many benefits. Known as Individual Debt Adjustment, Chapter 13 bankruptcy allows individuals to pay off debts over a certain amount of time. Only those with a stable income may file a Chapter 13 petition under the U.S. Bankruptcy Code.
Chapter 13 bankruptcy allows individuals to:
- Receive more time to pay off debts
- Create a repayment plan
- Use future income to pay off debts
- Maintain ownership of assets and personal property
A repayment plan can let you make steady payments on your debts over a certain amount of time, generally 3-5 years. Even though you will still have to pay off your debts, you will be able to keep possession of your assets, including your home, vehicles, personal property, and other items. On the other hand, if you file for Chapter 7 bankruptcy (reserved for those who don’t have enough steady income to make payments for a repayment plan), you will have to sell your non-exempt assets to pay off your debts.
Determine Which Type of Bankruptcy Is Right for Your Situation
Wisehart Law, PC provides informative legal assistance to clients in Oregon. If you are facing bankruptcy and don’t know how to proceed, we are here to help. As Canby bankruptcy attorneys, we can analyze the facts of your case and determine your eligibility for Chapter 13 or other types of bankruptcies. We are committed to helping our clients gain financial relief from their debt burdens, and will work tirelessly on your behalf every step of the way.
Contact our office today for reliable legal representation as you file for bankruptcy.