Chapter 13 Bankruptcy

Chapter 13 bankruptcy is not for everyone. Here are a few things you should know.

  • Debt limits. Secured and unsecured debts cannot exceed certain amounts.  A “secured debt” gives a creditor the right to take property (such as your house or car) if you don’t pay the debt. An “unsecured debt” (such as a credit card or medical bill) doesn’t give the creditor this right.
  • Steady income. When you file a Chapter 13 case, you’ll have to prove to the court that you can afford to meet both your monthly household obligations and pay into a repayment plan. If your income is irregular or too low, the court won’t confirm (approve) your proposed repayment plan (more below).
  • Not a business. This chapter isn’t available to companies, meaning that only an individual can file for Chapter 13 bankruptcy. However, business-related debts that you’re personally responsible for will be part of your plan, and therefore, from a practical standpoint, a sole proprietorship might be able to benefit from this chapter.



Are You in Trouble?  We Can Help!

While bankruptcy may be appropriate for some, others may want to learn more about other approaches to debt resolution that do not involve bankruptcy. These include debt settlement, debt negotiation, debt relief, debt consolidation and debt counseling. Our bankruptcy lawyers can help put an end to creditor harassment, repossessions and wage garnishment when you retain us to represent you. We also assist families or individuals who are facing foreclosure with remedies that include loan modification, short sale, or deed in lieu of foreclosure.

Contact our Arizona bankruptcy attorney today for help getting a fresh financial start through the many legal options available to you. We offer a FREE initial consultation to confidentially discuss and evaluate your situation.

If You Need Great Free Legal Advice,  We're Ready to Help You.



The Moak Law Firm
1820 E. Ray Rd., Chandler, AZ  85225

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The information provided on this website is not legal advice and is provided only for general information purposes. The information provided should not be taken as legal advice as no attorney / client representation or relationship exists. Additionally, the information given in this video is specific to the State of Arizona, only, at the time of completion and should not be applied to or relied upon any other state or any later date.

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