Regaining Control of Your Finances Through a Chapter 13 Bankruptcy

Every person comes to bankruptcy for different reasons and with different needs. It is important that the type of bankruptcy you choose be structured to meet those needs. For many people, Chapter 13 bankruptcy provides the kind of flexibility they need.

Chapter 13 bankruptcy allows you to reorganize your finances while protecting you from creditor harassment, wage garnishment and other negative actions. This reorganization comes in the form of a debt repayment plan, which can be three years to five years in length. The plan enables you to pay off tax debts and repay past-due mortgage payments and car loans even if you are delinquent on payments.

Preparing a Plan That Works for You

At Prescott Pearson & Tande, PA, our attorneys will work with you to structure a payment plan that works based on your income and assets. You may be required to pay a small portion of the debts you owe to unsecured creditors, but at the end of the plan, any remaining unsecured debt will be discharged completely.

Our firm has been focused solely on helping the people of Minnesota get a fresh start through the bankruptcy process since 1975. We're confident that we can help you, too. Call or contact our firm today for a free consultation and find out what nearly 70,000 previous clients already know.

Bankruptcy fact: If you file under Chapter 13, your creditors will not be able to go after your co-debtors or co-signers for money that you owe.

Is Chapter 13 Bankruptcy Right for You?

There are many advantages of filing for Chapter 13 bankruptcy protection instead of Chapter 7. Here a few of the most common:

  • You don't feel right about not paying your unsecured creditors back something.
  • You have too much nondischargeable debt, too much income or too many assets to file a Chapter 7 bankruptcy.
  • You want to keep your home but need time to make up the payments you've already missed.
  • You owe more money on your home than it's worth (usually due to second mortgages or home equity lines of credit).
  • You want to keep your car.
  • You owe taxes that a Chapter 7 bankruptcy won't get rid of and you need time to pay the IRS back.
  • You have assets such as a second home that would most likely have to be liquidated in a Chapter 7 bankruptcy.

We are prepared to explain clearly the facts that you need to know about your own Chapter 13 bankruptcy if it is right for you:

"This Is All We Do, and We Do It Well."

Contact Us Today for a Free Consultation

  • Minneapolis-St. Paul Area: 651-968-8096
  • Minnesota Toll Free: 888-366-0827

If you have a steady source of income and have not filed a Chapter 7 bankruptcy in the last four years or a Chapter 13 bankruptcy in the past two, this form of bankruptcy could be right for you. For answers about Chapter 13 bankruptcy, don't hesitate to call or email our lawyers in the Twin Cities area for a free consultation.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.