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What is Chapter 13 Bankruptcy?
Chapter 13 Bankruptcy is also called a "reorganization" or "wage earners plan". It is the type of filing where a plan of reorganization is filed showing which creditors are going to be paid and in what percentage. Today Chapter 13 is used by homeowners facing foreclosure who want to pay back their lender and stop the foreclosure. The mortgage company is paid back the past due payments over a five year period of time while the homeowner stays current with future payments.
In some cases unsecured junior liens can be eliminated as well as other unsecured debt. An examination is conducted by a Chapter 13 Trustee to verify the paperwork is complete and that the filer is paying all disposable income and making best efforts to repay creditors.
Contact the Law Offices of Steven A. Wolvek at (877) 925-2889, or complete the Bankruptcy Worksheet to begin the process.
Chapter 13 Bankruptcy is also called a "reorganization" or "wage earners plan". It is the type of filing where a plan of reorganization is filed showing which creditors are going to be paid and in what percentage. Today 
