Chapter 13 bankruptcy – reorganization

Chapter 13 is a portion of the Bankruptcy Code that allows individuals and married couples to consolidate their debts and pay back their creditors. It is a legal form of debt reorganization that allows you to gain control of your debt through a payment plan that can last from three to five years. It is particularly useful in situations where you have income, but have a home mortgage or car loan that you need to catch up on. A Chapter 13 payment plan is also helpful in paying off past-due child and spousal support and in paying off lingering tax debt.

There are many benefits to filing a Chapter 13 bankruptcy, including:

  • In most cases, you can stop a foreclosure, sheriff’s sale, garnishment, and/or seizure upon the filing of your case.
  • Home mortgage arrears can be paid through a three to five year payment plan rather than in a large lump sum.
  • High interest rates can often be reduced on car and truck loans, appliance loans and furniture loans.
  • In some instances, it is possible to reduce the amount of your vehicle loan to the value of the vehicle. Meaning, in those circumstances, you would pay back the value of your car rather than the amount owed on the loan. This is called a “cram down.”
  • It is possible to pay off your child and spousal support arrears.
  • It is possible to pay off your back taxes.
  • In certain, specific circumstances, it is possible to remove second and third mortgages from your property.
  • You don’t have to come out of pocket with a large amount of fees. The bulk of the legal fees in a Chapter 13 case are paid through your payment plan. In every Chapter 13 case that we handle, you pay just $500 up front. This amount covers your filing fee, credit counseling and financial management costs, and a small portion of my fee. The rest is paid through your plan. For more information about fees, please visit our Fees page

One of our local bankruptcy judges is fond of saying that even though he practiced bankruptcy law for 20 years and is now a bankruptcy judge, he wouldn’t dream of handling his own Chapter 13 bankruptcy case without an attorney. Needless to say, when a federal bankruptcy judge is giving you advice, it is wise to listen. If you are considering filing for Chapter 13 bankruptcy protection, it is important for you to get competent legal advice from an experienced attorney.

I have been practicing bankruptcy law for over 15 years and have handled thousands of bankruptcy cases throughout my career. I am available to speak with you about your situation and potential options for free. It costs you nothing to come in and talk with me about your debt problems and the potential solutions to those problems.

Call today to schedule your free initial consultation.

In the Lafayette area, call 337-347-9919.
In the Baton Rouge area, call 225-771-8220.

For more information about Chapter 13 bankruptcy, please visit our FAQ page

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Andress | Inzina
218 Rue Louis XIV, Suite A
Lafayette, LA 70508
Telephone: 337-347-9919
Fax: 337-541-2553
Andress | Inzina
343 N. Third Street, Suite 307
The Roumain Building

Baton Rouge, LA 70801
Telephone: 225-771-8220