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Chapter 13 Bankruptcy

Lafayette Chapter 13 Bankruptcy Lawyer

Chapter 13 bankruptcy is the most effective way for many people to find relief from their debt and start over financially. Chapter 13 is commonly referred to as the “wage earner’s” plan. It is a form of reorganization. A great benefit to a Chapter 13 is that you do not lose any assets. A plan or reorganization will be filed, and when the plan is complete a discharge will be entered eliminating any dischargeable debt that was not repaid during the plan. Chapter 13 is available to those who do not qualify for a Chapter 7 because of the income limitation.

Vidrine & Vidrine is a law firm that understands how financial difficulties can devastate an individual and a family. The firm’s goal is to help you create a plan that is as comfortable for you as possible – one that will require you to pay back the minimum amount of debt required under the law.

Keep Your Property

Chapter 13 can allow you to keep your property, including your home, vehicle and other items you may be paying off, by relieving you of other debts and payments, making it possible to become current on the important ones. Upon filing Chapter 13, an automatic stay goes into effect, which prevents creditors from attempting all collections activities, including harassing phone calls, foreclosure proceedings, threatening letters and other contact.

An experienced Lafayette Chapter 13 bankruptcy attorney, William Vidrine makes sure his clients fully understand their options. He will present the pros and cons of filing for bankruptcy and empower you to make informed decisions.

Debt Relief Attorney Serving Abbeville And Throughout Southwest Louisiana

Many people are worried about what filing for bankruptcy will do to their credit scores. Most people considering bankruptcy may already have bad credit. Obtaining a discharge, either in a Chapter 7 or a Chapter 13, will allow your credit to rebuild often quicker than one would think. For a free consultation with a lawyer who has more than 20 years of experience, call Vidrine & Vidrine at 337-233-5195 or send the firm an email.

Chapter 13
Chapter 13 generally permits individuals to keep their property by repaying some creditors out of their future income. Each chapter 13 debtor creates a plan which must be approved by the bankruptcy court. The debtor must pay the chapter 13 trustee the amounts set forth in the plan. Debtors receive a discharge after they complete their chapter 13 repayment plan. Chapter 13 is only available to individuals with regular income whose debts do not exceed $1,162,075. This figure may change periodically.

What are the costs of bankruptcy for consumers?

 

Fees

Chapter 13
Attorney fees: $2,800 ($600 up front; remaining fees are paid in the Chapter 13 plan)
Court costs: $310
Credit report: $60

Chapter 11
Attorney fees are on an hourly basis. A retainer will be required, the amount of which is dependent on the complexity of the issues involved.

All bankruptcy cases are different, your attorney at Vidrine & Vidrine will discuss this with you during your no-charge consultation. Contact our office today at 337-233-5195.

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

Please download our PDF with the information you will need to file for Bankruptcy.  Contact us today!

Disclaimer:
The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for advice regarding your individual situation. We invite you to contact us and welcome your calls, letters and electronic mail. Contacting us does not create an attorney-client relationship. Please do not send any confidential information to us until such time as an attorney-client relationship has been established. Call (337) 233-5195 today if you have any questions.