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Benefits of Filing Chapter 13 Bankruptcy in Shelton
Chapter 13 is the most comprehensive and encompassing form of bankruptcy. It covers all forms of debt of any type through elimination, reduction, or restructuring through payment plans. Chapter 13 protection allows families facing a plethora of problems to have all their financial issues solved in one forum. It provides powerful rights to individuals and families seeking full coverage of all their problems in one global plan of financial reorganization.
The filing of a Chapter 13 immediately stops all foreclosures, lawsuits or other collection actions, including:
- Stops foreclosure proceedings at any stage
- Stops tax collections by local state or federal authorities
- Stops lawsuits and judgments at any stage
- Stops attachments, levies and seizures of assets
- Stops all phone calls and creditor harassment
Chapter 13 provides the most complete debt coverage of any chapter of bankruptcy protection.
To learn more, contact our experienced Shelton, CT Chapter 13 lawyers by calling 203-230-2233 or toll free at 1-888-249-3027, or fill out our online Contact Form.
Chapter 13 Prioritization of Debt Through Elimination or Repayment
Successful financial turnarounds require an experienced Chapter 13 attorney to review all the specifics of each individual case. Every family budget is uniquely treated by our experienced attorneys through customized solutions based on your particular debts and financial resources.
Chapter 13 Properly Prioritizes Debts in order of importance. This means that your limited financial resources are directed to your most important bills before other precious monthly income is lost to less important obligations. Chapter 13 prioritizes mortgage debt above all other forms of debt, especially credit cards and other forms of high interest debt.
By legally refocusing your income to your most important needs like daily costs and housing, other lower priority payments like credit cards, collections or second mortgages are reduced or eliminated or discharged. Eliminating money lost to lower forms of debt in favor of higher priority obligations is an essential element of all solid financial recoveries under Chapter 13 prioritization rules.
A History of Success in Shelton, CT at the Law Offices of Neil Crane
We understand all the intricacies and details of Chapter 13 plans of reorganization. Our involvement provides the experience and knowledge to properly obtain the full range of protection available under the law.
Chapter 13 is the leading means to save homes from foreclosure by instituting an automatic stay against any foreclosure action at any stage. Once the foreclosure is stopped, Chapter 13 allows for repayment of secured debt over a three-to-five year Chapter 13 plan. A Chapter 13 can be filed at any time prior to the strict foreclosure law day or foreclosure sale date.
Experienced Lien Removal Attorneys Under Chapter 13 Bankruptcy
Chapter 13 allows for the removal of certain secured obligations like second or third mortgage liens or attachments. Chapter 13 lien stripping allows mortgages to more closely reflect the value of homes in today's market. This means that many so called "underwater homes" will often have liens or mortgages that can be removed. After removal, these liens are treated as unsecured debt subject to elimination or reduction. This lien stripping procedure is a very powerful tool, in our present real estate economy, and is only available in Chapter13 bankruptcy.
At the Law Offices of Neil Crane, we've been providing prompt and excellent Chapter 13 relief to our Shelton and Fairfield County clients since 1983. We have the knowledge to utilize all the powers of Chapter 13 to maximize your level of success.
To learn more about the comprehensive benefits of filing Chapter 13, call our experienced Chapter 13 attorneys at 203-230-2233 or toll free at 1-888-249-3027. Or complete our online Contact Form.