Resolving Debt and Getting Back on Track
Chapter 13 bankruptcy has become a viable option for individuals facing financial struggles. In contrast to Chapter 7 bankruptcy, Chapter 13 bankruptcy provides individuals with the opportunity to repay part or all of their debts, at no interest. The amount that you pay is commensurate with your financial ability and NOT what creditors would like you to pay.
Instead of liquidating debt, a Chapter 13 bankruptcy restructures the debt, allowing the debtor to use future income to pay off current creditors.
This form of bankruptcy is especially applicable for a debtor with consistent, regular income, but just is not able to get caught up due to ever growing late fees and absorbent interest charges. With more than 24 years' experience as Providence Chapter 13 bankruptcy attorneys, Pitts & Burns, Attorneys at Law, can help you resolve debt and guide you as you file Chapter 13 bankruptcy.
Rhode Island Bankruptcy Payment Plan
A Chapter 13 bankruptcy involves a payment plan over a three to five year period, where the sum of money left over from your net monthly income and living expenses is disbursed to the creditors. The amount you pay the creditors will depend on your income and your personal expenses. If you are considering filing Chapter 13 bankruptcy, contact our office for more information about how we can help you restore your life and peace of mind.
Contact a Providence, Rhode Island Lawyer Today
If you are seeking legal representation or would like more information about our services, contact our office today for an initial consultation. You can reach us toll free at 877-426-0420 or by contacting us online.
