Ways forward
Chapter 13 bankruptcy
Chapter 13 is a three-to-five-year plan to catch up on what's behind while you keep the house or the car. Foreclosure and repossession stop the day it's filed.
Often a fit if you
Are behind on a mortgage or car loan
Earn too much for Chapter 7
Owe back taxes you need time to pay
How a Chapter 13 plan works
One monthly payment
You pay one amount to the trustee each month, set by what you can afford, and the trustee pays your creditors.
Catch up on the house
Missed mortgage payments are spread over the plan, so a foreclosure stops while you pay them back.
Keep the car
Missed car payments can be caught up too, and some car loans can be lowered to what the car is worth.
Chapter 13 questions
What if I miss a plan payment?
Call me before it happens if you can. Plans can often be changed when work or health changes, and one hard month doesn't end a case.
Can I stop a foreclosure sale this week?
Often, yes. A Chapter 13 filed before the sale stops it. Call as soon as you have a sale date; the earlier we start, the more room there is.
Do I keep paying my mortgage?
Yes. The regular payment keeps going each month, and the missed ones are caught up through the plan.
Talk through Chapter 13 with Emmett
Thirty minutes, free, and nothing is filed without your yes.