Common Questions on Chapter 13

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Greenville Chapter 13 Lawyer You can Trust

Many misconceptions exist about bankruptcy and Chapter 13 in general. Also known as “wage-earner bankruptcy,” a Chapter 13 can provide a means for creating your own plan to repay debt and give you a chance to make up ground on your financial obligations. Boyd Law Office is dedicated to helping those struggling with debt find a way out.

Our Greenville Chapter 13 lawyers know the idea of bankruptcy can be overwhelming. For this reason, we have put together answers to common questions regarding Chapter 13 to help dispel any anxiety you may have about how the process works. Further questions can be answered by calling our office and setting up a consultation free of charge.

What happens in a Chapter 13 bankruptcy?

Our Greenville Chapter 13 attorney can work to help you form a repayment plan that fits your budget. A federal bankruptcy judge will then review the plan.

Does Chapter 13 mean I will lose my house and car?

Chapter 13 is set up to enable you to make up ground on your debts such as your mortgage or payments on your car loan. These can be incorporated into your repayment plan, which means you may keep them while you make Chapter 13 payments.

What will a Chapter 13 cost me?

In all likelihood, very little. There is only a filing fee to pay, along with the cost of the mandatory credit counseling program. All other fees can be factored into your Chapter 13 repayment plan.

What if my income suddenly changes?

With 3 to 5 years to repay your debts, a lot can happen. If you lose your job or cannot maintain your repayment plan for some reason, it may be possible to adjust your plan. As soon as you experience a change in your income for whatever reason, it is best to speak with a Greenville bankruptcy lawyer.

What if I’m being foreclosed upon?

If you file a Chapter 13, your foreclosure proceeding will halt immediately. This will also bring an end to phone calls from creditors and bill collectors so you can focus on getting out of debt.