Chapter 13 Bankruptcy
Get on the road to financial freedom
Chapter 13 bankruptcy lets clients consolidate unmanageable debt into one easy monthly payment. Many clients prefer Chapter 13 because it often allows them to retain and grow an expensive investment in personal property. Clients who qualify generally:
- Owe less than a federally specified amount of secured and unsecured debt
- Commit to repay a certain amount, every month over a three- to five-year period
- Obtain a stable source of income such as a full-time job
- Earn enough disposable income, beyond everyday living expenses, to afford the monthly repayments
Consolidating debt in Memphis, Tennessee
Clients come to The Law Office of Ben G. Sissman fearing that job loss, health issues, or other unexpected expenses will cost them their vehicles, homes, and financial independence. What they do not know is that Chapter 13 bankruptcy can:
- Appease bill collectors - Once clients commit to a repayment plan under Chapter 13, bill collectors must stop harassing them at home, at work, and through the mail.
- Avoid foreclosure - Clients who make a substantial investment in a home dread foreclosure and eviction. Chapter 13 bankruptcy may help preserve a substantial investment.
- Stop repossession - Mechanic's liens allow creditors to repossess items purchased on credit, but filing for Chapter 13 may help by demonstrating a commitment to repay overdue bills.
- Stop wage garnishment - When the IRS is charging interest on back taxes and syphoning off funds from paychecks, it may be worthwhile to either pay in full or file for Chapter 13.
Send us your questions. We urge clients to make informed decisions. Email us for additional information or review our responses to frequently asked questions:
- Consumer Bankruptcy FAQs
- Things to Bring to Your Bankruptcy Attorney
- Steps for Filing Bankruptcy in Memphis
- Will Bankruptcy Stop a Foreclosure?
- Understanding the Commercial Foreclosure Process
- Commercial Foreclosure Laws in Memphis
Call today to schedule a one-on-one consultation: 1-901-620-6347
Attorney Ben G. Sissman and his team of bankruptcy attorneys are highly qualified to assess your financial situation. Bankruptcy may not be the only option available to you.