Can Our Monthly Payments be Reduced to an Amount We Can Afford?

There is Debt Relief available to most people under a Chapter 13 Reorganization Plan. All you need to qualify is some regular source of income. Chapter 13 is a payment plan where most or all of your debts are combined together into one monthly payment. You make that monthly payment to a Court appointed trustee, who in turn uses that money to pay your bills. This includes payments on houses, cars, furniture, appliances, taxes and student loans as well as credit card and other unsecured debt.

The main advantages of a Chapter 13 for most people are to reduce your monthly payments to a manageable amount that you can afford, and to keep your creditors off your back, while you are getting them paid. As long as you are making your payments under a Chapter 13 Plan, your creditors may not call you, write you, harass you, put collection agencies or lawyers on you, repossess, foreclose, or take any legal action against you. Their hands are tied! They have no choice. It's the Law!

So a Chapter 13 can reduce your total payments and give you time to pay without losing any of your property and without the pressure and harassment from creditors while you are getting them paid.

The amount of your payment plan will be set after consultation with your attorney. It is based on many factors that may vary from one individual to the next. But remember, your payment is determined by you and your attorney, NOT your creditors. Most plan payments run from 36 to 60 months. At the end of that time, assuming you have made your payments and completed your plan, you will be out of debt, and can get on with your life without ever having to worry about the debts that were included in your plan. 

A Federal and State Approved Agency providing DEBT RELIEF under Federal Bankruptcy Law for over 30 years!

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