Anyone's finances may experience a few setbacks at one time or another. An accident, job loss or other unexpected event may cause you to fall into debt that may seem insurmountable - but it is a debt you will be able to repay over time. If you fall behind on your payments and your income does not allow you to meet your debts, your best move is to seek the assistance of an experienced bankruptcy lawyer. Contact us for a free initial consultation to discuss how the law can help relieve your situation.
Protect Your Assets While Paying Your Debts
At Marshall Entelisano Law, we represent debtors in Chapter 13 bankruptcy actions. Also known as the wage earner's plan or reorganization, Chapter 13 applies to debtors who fall behind on their payments, but who want to protect their assets and are willing to pay off their debts on an installment basis. Unlike Chapter 7, debts are not erased and your assets will not be subject to liquidation.
What Chapter 13 Bankruptcy Does for You:
Debt consolidation: It reduces your bills to a single monthly payment which a trustee collects and distributes among the creditors.
Debt reorganization: Your unsecured and secured debts are organized and paid off according to priority status.
You are required to present the court with a repayment plan detailing how you plan to pay off your creditors.
The period for a repayment plan usually lasts three to five years, during which you are required to make regular payments to the Chapter 13 trustee.
A Chapter 13 bankruptcy is reflected on your credit record for seven to 10 years.
Similar to Chapter 7, Chapter 13 can also eliminate or drastically reduce your unsecured debts.
If you are looking for an experienced bankruptcy lawyer to represent you in a Chapter 13 matter, contact Marshall Entelisano Law in Tuscaloosa, Alabama, to schedule a free initial consultation.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. Marshall Entelisano Law represents clients in the Alabama communities of Jasper, Moundville, Brent, Marion, Winfield, Fayette, Berry, Centreville and Livingston; as well as Tuscaloosa County, Marion County, Winston County, Walker County, Fayette County, Lamar County, Pickens County, Bibb County, Sumter County, & Greene County.
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The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for advice regarding your individual situation. We invite you to contact us and welcome your calls, letters and electronic mail. Contacting us does not create an attorney-client relationship. Please do not send any confidential information to us until such time as an attorney-client relationship has been established.
Providing the following services in Tuscaloosa area: Credit repair, debt relief, debt consolidation, and debt reorganization. We can help stop harassing phone calls, foreclosures, repossessions, evictions, lawsuits, garnishments and resolve tax debt and credit card debt.
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