If you are facing a pile of old debts you just can’t seem to get ahead of and are considering filing for bankruptcy, speak with an experienced Brazil Chapter 13 bankruptcy lawyer.
Filing for Chapter 13 bankruptcy could be a great option for you if you have a steady income and want to repay your debts without having to sell your assets. Many people assume that, when you file for bankruptcy, the sale of your possessions is inevitable, but this simply isn’t the case.
Although things may seem impossible now, your Brazil Chapter 13 lawyer at Rowdy G. Williams Law Firm can help you see the light at the end of the tunnel. After your debts have been discharged, you’ll have a fresh start and a brighter financial future to look forward to.
There are a few requirements that you’ll need to meet before we can determine your eligibility for declaring Chapter 13 bankruptcy. To begin, you will need to complete mandatory credit counseling and provide a certificate of completion to a judge.
Your total combined debts cannot be more than roughly $394,000, and you will need to have a regular source of income, whether you are working for someone else or self-employed. Still not sure you qualify? Call a Chapter 13 lawyer in Brazil for guidance.
Setting Up Your Repayment Plan
Before we can set up your plan of repayment, we will first need to provide documentation of your income and expenses (and those of your spouse), assets and liabilities, a financial statement, and a list of each of your debts and creditors.
When the court receives these, along with a certificate of completion for your credit counseling, the judge will issue a stay that will no longer allow your creditors to continue to pursue your debts from you or any of your co-signers.
Then, we will be able to begin structuring your repayment plan and meet with your creditors. In this meeting, we will have the opportunity to clear up any potential discrepancies and negotiate the terms of your repayment.
You will usually have three to five years to pay off all of your debts. Once these tasks have been completed and an agreement has been reached, the judge will put your Chapter 13 bankruptcy filing into effect.
When Your Debts Will Be Discharged
You will be released from your debts if you meet all of the requirements of your repayment plan. Once the debts are discharged, creditors will no longer be able to seek payments from you.
If you have not been able to stick to your repayment plan and have begun to fall behind again, you could be issued a hardship discharge. This can only be done if no workable repayment plan can be reached, the creditors have received as much as they would have if your assets had been sold, and the situation is not your fault.
Reach Out to a Brazil Chapter 13 Attorney
Don’t let financial anxiety weigh you down for another moment. Reach out to an experienced Brazil Chapter 13 lawyer at Rowdy G. Williams Law Firm today. You can set up your no-cost case evaluation by calling our office at 1-812-232-7400 or filling out the contact form we’ve provided below.