Virginia Chapter 13 Bankruptcy Attorney
Referred to as the “wage earner plan” in Virginia, Chapter 13 is often used for consumers with a steady paycheck or source of income. This option allows individuals to reorganize their debts into a single repayment plan lasting anywhere from three to five years. At this point, the remainder of your debt is discharged, with some limited exceptions, and the court will issue an order prohibiting creditors from the further collection of the debt.
A successful Chapter 13 debt repayment plan requires two important things: a highly experienced and attentive bankruptcy attorney, and your complete honesty. Michael D. Hart, P.C., provides the first half of this equation. Call us at 540-627-6520 to schedule your free initial consultation to discuss your financial situation with our compassionate Chapter 13 bankruptcy lawyers in Mechanicsville and Roanoke.
Chapter 13 Is A Powerful Debt Relief Tool
Chapter 13 bankruptcy provides some powerful legal protections that are not available through any other debt relief option. Listed below are only a few of the ways that filing under this chapter could help you.
- Facing foreclosure? Chapter 13 allows you to stop foreclosure proceedings that have already begun and prevents new foreclosure actions. We can still work with your mortgage company to obtain a modification to reduce your interest rate or payment. The repayment plan also provides a mechanism to bring your mortgage current in Virginia.
- Back taxes? The Internal Revenue Service is arguably the most powerful collection agency. Chapter 13 provides you, the taxpayer, with more control to set the terms for repayment of taxes that cannot be discharged.
- Significant student loans? Student loans are generally not dischargeable through bankruptcy. However, this chapter can be used to impose a forced deferment for the duration of the repayment plan.
- Unable to pay child support? Chapter 13 provides protection if you are having trouble making your child support payments. You will be required to continue paying, but the recipient cannot use a court to collect payments missed prior to filing. You can avoid serious penalties, including jail time.
Contact Us | Free Initial Consultations
If you would like to know more about how Chapter 13 bankruptcy could help you take control of your finances, contact our law firm immediately. We will have a meaningful conversation about your options for relief. You can submit your information online or call our office at 540-627-6520.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.