A Personalized, Sensitive
Approach To Bankruptcy
Eugene Chapter 13 Bankruptcy Lawyer
Chapter 13 is a flexible and effective debt relief solution for individuals, married couples and small-business owners. When the collection calls and threats of foreclosure or other legal actions to collect on debts become overwhelming, honest, hardworking people in Oregon often rely on this flexible form of bankruptcy to regain control of their finances and money. At The Law Office of Kim Covington in Eugene, I have substantial experience guiding clients to a brighter future — free from constant creditor harassment.
Debt Relief And A Chance To Keep Assets
Chapter 13 personal bankruptcy, known as a wage earner repayment plan, allows the person filing to reorganize his or her debt and make a monthly payment to a case trustee for 36 to 60 months. This monthly payment can be used to satisfy numerous creditors.
If you are in debt that you cannot afford to pay off, Chapter 13 may be appropriate for you. Many people file under Chapter 13 because they do not qualify for Chapter 7 or because they want to keep certain assets that they could not keep in Chapter 7. Some families and businesses use Chapter 13 to keep homes or cars while dealing with credit card debt and other unsecured debt.
What About Foreclosure Or Repossession?
In contrast to Chapter 7, Chapter 13 bankruptcy can stop a house foreclosure or auto repossession. To protect your home or auto, you must file your Chapter 13 bankruptcy case before the date set for foreclosure or before your auto has been repossessed.
If you file under Chapter 13, you will be required to slowly catch up on any missed auto or mortgage payments within the bankruptcy case while also continuing to stay current on your ongoing monthly mortgage and auto payments. In some cases, Chapter 13 can be used to “cram down” or “strip down” the equity on a vehicle or a second mortgage so that the loan reflects the actual value of the collateral.
Every situation is unique. If you think you might benefit from Chapter 13 bankruptcy, talk to an experienced bankruptcy lawyer about your options.
Contact A Skilled Chapter 13 Bankruptcy Attorney In Eugene
I understand the stresses and time constraints many families and individuals face. I offer flexible evening and weekend hours, by appointment, in the Eugene, Oregon, area. To arrange a free consultation with a Eugene Chapter 13 bankruptcy attorney, call 541-393-2790 or 800-673-1891 or send me an email.
I will clearly explain my affordable rates during your initial consultation. To make things as easy as possible, payment plans are available. I have office in Eugene to serve you.