Peoria, Illinois, Chapter 13 Bankruptcy Attorney
Chapter 13 bankruptcy is also known as "debt reorganization" and allows consumers to establish a debt repayment plan that will ultimately reduce or eliminate your debts. A Chapter 13 bankruptcy will only appear on your credit report for 7 years. Immediately after filing, you have the opportunity to rebuild your credit score. At Charles E. Covey, Attorney at Law, we offer experienced advocacy to protect the rights of our clients facing serious and unmanageable debt.
Chapter 13 is a debt relief solution that allows you to reorganize your debts into a payment plan, stop foreclosure and stop creditor harassment. Contact us for a free consultation with an experienced bankruptcy lawyer.
A Chapter 13 bankruptcy is often referred to as a debt restructuring bankruptcy because it enables people to pay some of their debts gradually in accordance with a debt repayment plan approved by a bankruptcy court judge. The benefit of a Chapter 13 bankruptcy is that it allows people to pay their debts in a manner that is gradual and affordable. It might also result in reduced interest fees over the life of debts and the partial or complete elimination of some debts.
You may want to pursue Chapter 13 bankruptcy if:
- You want to protect a home or other assets
- You have amassed unmanageable debt you cannot repay
- You want the opportunity to reorganize your debt
- You want to stop vehicle repossession
- You want to stop wage garnishment
- You want to stop creditor harassment
- You want to stop home foreclosure
Stop home foreclosure with Chapter 13 bankruptcy
One reason people file for Chapter 13 bankruptcy is to prevent home foreclosure. If you are behind on mortgage payments or fear that you may lose your home to foreclosure, it is important to consult with an attorney who can protect your assets and help you reorganize your debt. At your initial consultation, bring in your bills and we will review your assets, income, expenses and debt. A repayment plan will usually last a duration of 3 to 5 years and the remaining balances will be forgiven at the end of that period.
At the law office of Charles E. Covey in Peoria, Illinois, we are pleased to help people file for Chapter 13 bankruptcy or Chapter 7 bankruptcy, and implement additional debt relief services we have designed for the benefit of individuals, families and businesses struggling with debt.
Contact Charles E. Covey for a free consultation with a bankruptcy lawyer in Peoria, Illinois. Call now to explore your options and alternatives if you are considering bankruptcy. We can protect your rights and help you take steps toward a financial fresh start.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
