CHAPTER 13 BANKRUPTCY

Chapter 13 offers those with a steady income a way to protect their property and other assets. Not limited to individuals, Chapter 13 is an option for small-business owners who also require debt relief.

While Chapter 7 provides for a complete liquidation, Chapter 13 provides for a reorganization of debt repayment. Chapter 13 bankruptcy is especially helpful for those who have significant equity in a home or other property and want to keep it. It is designed for people with a regular income who want to pay off their debts but are unable to do so according to the terms demanded by their creditors. We can propose a repayment plan that pays off your creditors over the course of three to five years. During this approved repayment period, creditors are generally prohibited from continuing collection efforts.

Benefits of Chapter 13 Bankruptcy:

• Immediately begin rebuilding your credit and take control of your finances.
• All repossession and foreclosure actions will be stopped.
• By working within a structured repayment plan, you can manage your debt in gradual payments.

Contact Our Norman, Oklahoma, Office For A Clean Financial Slate

At Allen & Mills, PLLC, our team of experienced bankruptcy attorneys can empower you to take control of your finances. Call us to schedule a consultation by dialing 405.701.8856 or reach us by sending an email through our online contact form.