CHAPTER 13

BANKRUPTCY LAW: CHAPTER 13

Relieve Debt Through a Repayment Plan

Chapter 13 is a unique form of bankruptcy that involves creating a repayment plan to pay off debts. The plan is created by comparing your income to your costs of living. The money left over after paying for food, shelter and other necessities is used to pay off creditors. Some creditors may be paid off completely. Others may only get part of what they’re owed.

At the end of the plan, which typically lasts three to five years, all remaining unsecured debts are eliminated. While you still may have your monthly mortgage and car payments, you will be caught up and ready to move forward. You will not lose any of your property along the way.

Will Chapter 13 bankruptcy work for you? Before we can answer that question, we will carefully review your situation. With 30+ years of experience in Alexandria, Fairfax and throughout Northern Virginia, we know when to recommend Chapter 13, and when Chapter 7 may be the more effective choice.

Chapter 13 Relieves All Debts

Chapter 13 is an effective method of eliminating unsecured debts like credit card debt and medical debt. The repayment plan will also allow you to catch up on past due mortgage and car payments. Even debts that are typically hard to overcome, such as tax debt and student loan debt, can be included as part of the Chapter 13 repayment plan.

The Automatic Stay

As soon as Chapter 13 is filed, an automatic stay goes into place. This stops all creditor actions against you. It will stop creditor harassment. It will stop foreclosure. Creditors will no longer be able to take any actions to collect what they are owed.

We help people in Alexandria, Fairfax County and throughout Northern Virginia benefit from the automatic stay. We serve as a debt relief agency and help people file for bankruptcy relief under the Bankruptcy Code.

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When you’re ready to call, we’re ready to help. Call us at 703-836-9030, or contact us here

Bankruptcy Law Attorney

Gregory M. Wade

Gregory M. Wade was born in Washington, D.C. and raised in Northern Virginia. Since 1977 Mr. Wade has been engaged in the private practice of law in Northern Virginia and has been an active leader in the Bar and in the community.

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