Do you need to reorganize your finances or consolidate your debts?
If you are facing heavy debts due to a foreclosure, garnishment, change in income, or any other reason, but you have the ability to pay some or all of your debts if the creditors would just leave you alone and give you the chance, you should consider Chapter 13 bankruptcy. A Chapter 13 reorganization bankruptcy allows you to create a repayment plan that can last from three to five years, allowing you to lower monthly payments, eliminate interest, and stop harassing phone calls.
When a Chapter 13 bankruptcy is filed, a court-appointed trustee is assigned to the case. Each month you send payment to the trustee. The trustee then takes your payments and pays your creditors according to the terms of your reorganization plan. Upon completion of your plan, you can be current on your mortgage, rid of all credit card debt, and have the title to your vehicles.
While filing Chapter 13 bankruptcy can be complex, involving many steps and many important decisions, a seasoned Chapter 13 bankruptcy attorney at The Brad Hendricks Law Firm in Little Rock, Arkansas, is available to help. Call us today at (501) 221-0444 or toll-free at (800) 603-5100, or contact us online to schedule a FREE consultation.
Reorganization through Chapter 13 Bankruptcy
Like Chapter 7 bankruptcy, you must meet certain requirements to file a Chapter 13 reorganization case. One requirement is that you must have a regular source of income and be able to make a regular monthly payment to your appointed Chapter 13 trustee. So long as you make your payments to the trustee, the bankruptcy laws will protect you from your creditors. This protection is referred to as an automatic stay. The automatic stay will stop a foreclosure on your home and stop or prevent a garnishment of your wages or bank accounts. The automatic stay also prevents creditors from hounding you with phone calls or sending you letters. The creditors must leave you alone, allowing you an opportunity to catch up on your mortgage arrears or late car payments or any other debts that may be behind but that you intend to pay. So long as you successfully complete your Chapter 13 case, you will never hear from those pesky creditors again!
Chapter 13 bankruptcy, also known as a wage earner’s plan or business bankruptcy, is a debt-restructuring plan. In Chapter 13 bankruptcy, you will probably be able to keep your house, your car, and other valuable property as long as you live up to the terms of your bankruptcy agreement. In a Chapter 7 bankruptcy, all nonexempt assets will be sold and the money distributed to your creditors.
Both are perfectly legal ways to make a fresh start. Contact The Brad Hendricks Law Firm for a free initial consultation. One of our experienced, professional Little Rock, Arkansas, Chapter 13 bankruptcy lawyers will be happy to explain the pros and cons of bankruptcy, and answer any questions you may have.
Problems Other than Bankruptcy?
Regardless of your legal needs, The Brad Hendricks Law Firm may be able to help, with the skill and experience to resolve your legal problem. If you or a loved one has been injured by the acts of another because of a dog bite or other animal attack, car wreck, trucking accident, a motorcycle collision, or medical malpractice on the part of your doctor, our personal injury lawyers can help. If you are disabled and need help with a disability claim, contact an Arkansas Social Security lawyer you can count on. Perhaps you require assistance with a contractual matter or other business or commercial dispute, or are facing a divorce and need counsel when resolving custody and child support issues. The Brad Hendricks Law Firm can help solve your problems as professionally and cost-effectively as possible, serving as an advocate for you and your family.
Whether you need assistance with a specific legal issue or are looking to establish an ongoing relationship with a law firm, please call our law firm at (501) 221-0444 or toll-free at (800) 603-5100 to arrange a free initial consultation one of our attorneys today. We are available 24 hours a day, 7 days a week, to serve our current and potential clients. All online inquiries are answered within 48 hours. Please contact us today. For your legal needs, you can count on us!
The Brad Hendricks Law Firm proudly serves clients throughout Arkansas, including Arkadelphia, Benton, Conway, El Dorado, Fayetteville, Fort Smith, Hot Springs, Jonesboro, Little Rock, Pine Bluff, Texarkana, and West Memphis as well as numerous counties throughout the State of Arkansas, including Arkansas County, Baxter County, Benton County, Bradley County, Calhoun County, Clark County, Columbia County, Conway County, Crittenden County, Faulkner County, Garland County, Hempstead County, Hot Spring County, Izard County, Lawrence County, Lonoke County, Monroe County, Nevada County, Pike County, Poinsett County, Polk County, Pope County, Prairie County, Pulaski County, Saline County, Sharp County, Stone County, Washington County, White County, Woodruff County, and Yell County, and all other counties in the State of Arkansas.
We are a Debt Relief Agency. We help people file for bankruptcy relief under the Bankruptcy Code.