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Chapter 13 Bankruptcy

Wage Earner Bankruptcy

Whether due to a job layoff, extended illness, divorce or other changes in circumstances, many people find themselves seriously behind on their bills with no foreseeable hope of ever catching up. The bankruptcy laws recognize that it is a benefit to provide those people the opportunity for a fresh start, so that they may once again be vital contributors to the economy.

At the law office of John Rogers, a knowledgeable attorney will always be looking out for your best interests. We will assist you in obtaining that fresh start. One way is by filing chapter 13 bankruptcy. Chapter 13 Bankruptcy is a repayment plan that is usually only used when you are behind on your payments, and you want to catch up on your payments without liquidating your assets. Chapter 13 bankruptcy, also known as wage earner bankruptcy, is where creditors settle your debt to them pursuant to a court approved plan. Chapter 13 forces creditors to settle their debt, stop interest, and stop late penalties.

Chapter 13 is designed to enable individual debtors, under court protection and supervision, to apply part of their future earnings to the payment of a portion of their debts over an extended period of time. The debtor is protected from creditors by an automatic stay while a plan of repayment is developed and carried out. An automatic stay stops foreclosure and repossession of nonexempt property with equity value, such as your home. You pay back part of your unsecured debts, such as credit cards and medical bills, and you pay back in full the amount you are behind on your home and some secured debts such as vehicles over a 3-5 year payment plan that is approved by the bankruptcy court.

If you are behind on your payments, and are facing foreclosure or repossession, chapter 13 is the bankruptcy of choice for most people. Contact the law office of John Rogers and schedule a free initial consultation to speak with a lawyer with the knowledge and experience to provide you with the highest level of legal representation. Let us help you gain a fresh start.

John Rogers Attorney at Law Old Firehouse Building 111 West Wayne Street Glasgow, Kentucky 42142 Phone: 1-888-651-9353 Fax: 270-651-9350 Email Me For Directions, click here

Certified - Consumer Bankruptcy Law - American Board of Certification