Chapter 13 Bankruptcy
Our Milwaukee Bankruptcy Attorneys Protect Your Assets
A Chapter 7 bankruptcy may not work for everyone. Perhaps you want to save your home from foreclosure or your vehicle from repossession, or stop tax levies and garnishments. In such a case, our Milwaukee bankruptcy attorneys are able to file Chapter 13 bankruptcy for the relief you seek. If you have fallen behind in your monthly payments but have steady income, Chapter 13 bankruptcy will help save your house or car. It also allows you to consolidate other debts like credit cards and medical bills into one monthly payment for three to five years.
Benefits of Chapter 13
- Stop Foreclosure
- Stop Car Repo
- Stop Harassing Creditors
- Stop IRS Collections
- Lower Car Payments
- Consolidate Student Loans
- Protect Co-signers
Stop Collection Efforts, Keep Your Possessions and Eliminate Debt
Individuals who are behind on mortgage payments and want to file for Chapter 13 bankruptcy protection may also qualify for the Mortgage Modification Mediation Program. You must have steady income allowing you to pay 31% of your gross income or 75% of the monthly mortgage payment (whichever is less) throughout mediation. If successful, a creditor may permanently lower your monthly mortgage payments.
Participation in this program is usually requested at the onset of the Chapter 13 filing. In some cases, a debtor may be able to participate after the filing. An experienced Milwaukee Chapter 13 bankruptcy lawyer helps if you are in danger of losing your home to foreclosure, your vehicle to repossession, or if you don’t meet the qualifications for a Chapter 7 bankruptcy (but are drowning in debt).