Chapter 13: Personal Bankruptcy In Tucson

Do you need legal help to develop an intelligent financial plan to repay all or part of your debts? Tucson bankruptcy lawyer Jeffrey P. Judge at the Judge Law Firm represents clients who are considering filing Chapter 13 personal bankruptcy in Tucson and the surrounding area. Chapter 13 is the section of the U.S. Bankruptcy Code that commonly is referred to as the wage-earner's plan. You may have heard it called "reorganization" or "consolidation."

Is The Wage-Earner's Plan Right For You?

Chapter 13 allows the design of an interest-free repayment plan where a person repays at least some of his or her unsecured debts with regular payments over a three- to-five-year period. Under this scenario, creditors typically expect to collect more from a debtor than what they would have received under a Chapter 7 personal bankruptcy solution. The bankruptcy law also prevents creditors from beginning or continuing collection efforts.

A special benefit of Chapter 13 is that the person whose financial life has been turned upside down usually can continue to live in his or her home while working to save the residence from foreclosure. Basically, you can stop foreclosure proceedings and eventually cure delinquent mortgage payments over time. Simultaneously, you can plan out your financial commitments and reschedule secured debts (other than the mortgage for your primary residence), possibly lower payments, and stretch them out over the Chapter 13 designated years. Of course, there's a downside: your payments could linger longer than you planned, whittling away at future income.

In short, Chapter 13 acts as a consolidation loan. You make your payments to a trustee who distributes payments to your creditors. You will not have direct contact with creditors while under Chapter 13 protection. If you find yourself facing the likelihood of a Chapter 13 in Tucson, the Judge Law Firm will provide guidance and legal help to direct you toward workable solutions for your future.

Talk To Us Today

For an initial consultation and to determine if filing Chapter 13 in Tucson, Arizona, is an appropriate choice for you, please call Tucson bankruptcy attorney Jeffrey P. Judge at 520-815-0281 or submit our email form.

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