Mesa Bankruptcy Lawyer

Chapter 13 Bankruptcy Mesa

When it feels like the walls of debt are closing in around you and you do not know what else to do, it may be time to consider bankruptcy. That word can cause panic in people afraid that bankruptcy means that they will lose everything. What you need to know is that there are bankruptcy options available that can stop all of the harassing creditor phone calls while still allowing you to keep any property that you may fear that you will lose by filing bankruptcy.

Chapter 13 is a different type of bankruptcy program in which you can keep most of you property by agreeing to repay as much of your debt as you are financially able to over a 3-5 year period. A trustee is appointed and a repayment amount will be set for you based on your current finances. You will make these payments directly to your trustee and the money will be distributed between your creditors. This arrangement will stop creditors from coming after you as they will have agreed to accept installment payments. If you are able to afford the Chapter 13 repayment terms and the payments for whatever properties you wish to keep, you will be able to do so.

Many people are concerned about what a bankruptcy might do to their credit rating. Unfortunately, if you are in a situation where you are considering bankruptcy as an alternative, your credit rating has already been damaged. Actually, in many cases, once the Chapter 13 has been filed, your credit score will improve slightly since payment arrangements for these debts has been made. As long as the payments continue to be made on time during your repayment plan and after the bankruptcy is discharged, rebuilding your credit will not be a problem. The important thing is that you continue to make your agreed to payment arrangements on time.

Do not feel ashamed or embarrassed. There are tens of thousands of Americans that are drowning in debt, losing sleep and living with the constant stress of losing everything. It does not have to be that way for you. Just contact us in either of our Arizona offices located in Phoenix and Tucson. There is a bankruptcy professional standing by to discuss the whether Chapter 13 is the answer for you. Contact us today and take advantage of our free debt evaluation with no obligation to you.

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