South Carolina Chapter 13 Lawyers
Chapter 13 could provide the debt relief and protection you need from your creditors. If you are struggling to make your house payments and in danger of losing your home to foreclosure, a bankruptcy filing under Chapter 13 laws could protect your home and place you in a more secure financial position.
At Thompson & King, we understand how frightening it can be to face bankruptcy. Our experienced attorney, Robert King will work with you ensure that your home and assets are protected under the Chapter 13 laws. Please contact us to speak with an Anderson, South Carolina lawyer about your financial situation.
Is a Chapter 13 bankruptcy right for you?
A Chapter 13 bankruptcy, also referred to as a “wage-earner” plan, works well for consumers with mostly secured debt. To qualify for this type of Bankruptcy, you must have a source of income. Under Chapter 13, you will be able to keep your secured property, such as mortgaged homes and financed cars, and the court will establish a time frame, usually five years, during which you make monthly payments to your bankruptcy trustee. At the end of the plan, any remaining debt will usually be discharged.
If you are earning money but you are unable to make minimum monthly payments on your debt, or have tried to modify the terms of your mortgage, but your lender is unresponsive, this may be the right type of bankruptcy for you. A Chapter 13 filing will immediately stop foreclosure, stop creditor harassment and legal actions against your assets.
WARNING: If your creditors are suing you and you have received a summons and complaint, you must respond in a timely manner or you will suffer a default judgment that may not be removable in bankruptcy. You should consult an experienced personal bankruptcy lawyer immediately.