Chapter 13 Bankruptcy Attorneys In Aurora

Is a Chapter 13 Bankruptcy the Right Option for Me?

If you have non-exempt assets or real estate property that you want to keep, and if the major source of your financial troubles is a mortgage loan, and you are uncomfortable with the idea of completely erasing your debt obligations in a Chapter 7 bankruptcy — then a Chapter 13 bankruptcy may be the right solution for you.

At Porro, Niermann & Petersen, LLC we help people in Illinois navigate their way through the bankruptcy process and achieve debt relief. We can help you make an informed choice about filing for bankruptcy under Chapter 13. For a free consultation — contact our firm today.

A Chapter 13 bankruptcy is really about reorganizing and consolidating your debt into a monthly payment that you make to the trustee — who then distributes that payment to your creditors each month. Your debts will be paid in order of priority, with some debts being paid in full and others only in part over the life of the plan.

In a Chapter 13 bankruptcy, you file two documents with the court to start the process. The first is the bankruptcy petition. The second is your repayment plan, which at a minimum must include enough to pay “priority debts” in full. This can include tax obligations, child support, etc.

We will work with you to create a plan that fits your needs. Once this task is complete and we have filed the petition and the plan with the court, the court will appoint a bankruptcy trustee to review the plan and oversee your case. If the bankruptcy trustee approves the plan, you will then begin making monthly payments within 30 days.

Free Chapter 13 Bankruptcy Consultations

A Chapter 13 bankruptcy can help you reorganize your debts, and allow you to keep your home. Contact our firm for a free consultation with chapter 13 bankruptcy attorney.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.