Chapter 13 Bankruptcy

When your monthly bills become overwhelming, you might be thinking about talking with a Chapter 7 or Chapter 13 bankruptcy lawyer Las Vegas, NV, has to offer. Many people initially believe they will be able to eliminate all of their debt through Chapter 7. However, a means test must be passed with this type of bankruptcy. If you don’t meet these requirements, Chapter 13 might be recommended.

A Chapter 13 bankruptcy, also called a “wage-earner” or “debt-adjustment” bankruptcy, is one of the few bankruptcy options for individuals in Olathe. Individuals can usually consolidate and restructure unsecured debt by using an individualized repayment plan. Typically, when establishing a repayment plan under the law, an individual must repay an agreed-upon portion of their debt over a 3 to 5-year period of time.

Chapter 13 bankruptcy is a favorable option that will reduce the stress of large debt by restructuring the debt into an effective repayment plan. Through the U.S. Bankruptcy Code, Chapter 13 bankruptcy allows debtors to pay creditors an affordable amount over time. Robert E. McRorey’s law office will work with you to prepare and file your Chapter 13 bankruptcy. Our attorneys ensure you understand every step of the Chapter 13 bankruptcy process. Our chapter 13 bankruptcy lawyer will generally negotiate the debt with creditors and represent you in bankruptcy court.