What Is A Chapter 13 Bankruptcy

Chapter 13 Bankruptcy is also known as a reorganization bankruptcy. Chapter13 bankruptcy is filed by individuals who want to pay off their debts over a period of three to five years depending on their level of income.  Generally, individuals who have non-exempt property that they want to keep will consider the filing of a Chapter 13 bankruptcy.  It is the only option for individuals who have a predictible income and whose income is sufficient to pay their reasonable living expenses with some amoutn left over to pay off some of their debts.

A Chapter 13 bankruptcy may also be beneficial to those that are interested in reducing the principal balance of their mortgage.  To learn more about Chapter 13 bankruptcy or how to reduce the principal balance of your mortgage, contact the attorneys at the Law Offices of Alon Darvish for more information.

Contact Attorney Alon Darvish, Chapter 13 Bankruptcy Attorney, for a free consultation.

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