Chapter 13 Is The Wage Earner's Bankruptcy

Chapter 13 bankruptcy is considered a wage earner's bankruptcy because people who qualify frequently have an income but need assistance figuring out how to pay creditors. This can be accomplished through reorganizing their debts into a single payment plan.

At Goble & Yow, PLLC in Clarksville, Tennessee, we assist people in filing Chapter 13 bankruptcy. Our skilled attorneys can walk you through the process and help you determine if filing for bankruptcy is the right option based on your needs. We have more than 35 years of combined experience assisting clients with debt relief.

Our lawyers assist people who do not qualify for Chapter 7 bankruptcy under the means test or those who want to protect certain property. If you file Chapter 13, you will be allowed to retain your property, provided you comply with the payment plan.

Chapter 13 Bankruptcy Repayment Plan

Our attorneys will negotiate a repayment plan on your behalf. The payment plan will be determined using the amount and type of your debt as well as the amount of your disposable income. In most situations, debtors will pay only a small percentage of debt to their unsecured creditors. Unsecured debt is not attached to collateral — medical debt and credit card debt, for example. Secured debt is attached to collateral, such as a home or vehicle. The payment plan will take place during a three- to five-year timeframe. The process is complete when you successfully comply with the plan.

Save Your Home From Foreclosure

Chapter 13 bankruptcy is a common choice for homeowners that want to save their home from foreclosure. Your mortgage payment, including arrears, can be worked into the payment plan. This allows you to get current on your house payments and prevents you from losing your home.

Are You Struggling With Debt? Schedule A Free Consultation.

Goble & Yow, PLLC provides skilled, nonjudgmental legal help to people who would like to get a fresh start on their finances through Chapter 13 bankruptcy. We offer free initial consultations. To schedule yours, call us at 931-266-4763. You can also send us an email, and we will contact you.

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