Chapter 13 Bankruptcy in Dupage County

Filing for Chapter 13 in Dupage County?

If you are overburdened with bills, but have a steady income and property to protect, Chapter 13 reorganization might be the right solution for you. It allows you to reorganize your debts into one manageable monthly payment. It can help you stop foreclosure or repossession of your property. Chapter 13 can also be used to stop interest from accruing on a tax debt. At the Law Office of Joseph P. Doyle, we have a great deal of experience with Chapter 13 and other types of bankruptcy. Our Dupage County bankruptcy attorney will be happy to meet with you and discuss your options during a free bankruptcy evaluation.

Chapter 13 Attorney: Knowledge and Experience

Under Chapter 13, you submit to the court a proposed plan to pay all or part of your debts over a 3 to 5 year period. A bankruptcy trustee, appointed by the court, will review the plan to ensure that it is reasonable. Creditors will have an opportunity to object. The court will deduct from your income certain necessary expenses, as determined by the IRS, to arrive at your disposable income. That figure is used, along with other factors, to determine what your payment amount should be.

Your plan must provide for payment in full of certain debts, such as taxes, that have a priority claim. Our experienced Dupage County bankruptcy lawyers will discuss with you the possible benefits of bankruptcy in your financial situation. Saving your home or other piece of real estate could be one of your goals, and filing Chapter 13 could end foreclosure proceedings and get that situation under control.

Discharge of Debt under Chapter 13 Bankruptcy

When the plan is approved, you will make one monthly payment to the court, and the trustee will distribute those funds to your creditors. At the end of the plan, if you have kept to the terms of the payment agreement, all remaining debt will be discharged. Contact our firm for knowledgeable assistance with this important decision.