Chapter 13 Bankruptcy Lawyer
in Charlotte

For Debt Relief, Call the Law Office of Kimberly A. Sheek

Chapter 13 is known as reorganization bankruptcy because it requires debtors to repay most of their debt through a Chapter 13 repayment plan. When you file for this type of bankruptcy, you must submit a proposal to the court that includes how you intend to pay back debt, which may include overdue mortgage payments, car loans, and other types of debt.

Repayment plans are determined by:

• The amount of debt you have
• Your disposable income—how much can you afford after necessary expenses
• Administrative fees
• Interest

If you are interested in filing for Chapter 13, contact me, a Charlotte bankruptcy lawyer, at the Law Office of Kimberly A. Sheek. I can review your situation to determine whether Chapter 13 is right for you or if you qualify for Chapter 7 bankruptcy. My law firm puts clients first and works hard to make sure that you receive effective guidance and care during the process.

Can Chapter 13 Bankruptcy Help Me?

Chapter 13 bankruptcy is a proven method that has helped countless debtors resolve their financial problems. If you do not qualify for Chapter 7 and are facing the foreclosure of your home, repossession of your vehicle, and large delinquencies, then you can absolutely benefit from filing for Chapter 13. The moment you file for bankruptcy, all collection actions must be halted. This means that your foreclosure and repossession will pause, and creditors are not permitted to harass you. Chapter 13 petitioners can also keep most of their possessions, such as their home and car.

How Do You Qualify for Bankruptcy Chapter 13?

Are you struggling against debt? Chapter 13 might be a good option for you, however, not everyone is eligible to file. Learn more about how to qualify for Chapter 13 bankruptcy.

Below are the requirements for qualifying for Chapter 13:

• Complete the official Chapter 13 bankruptcy paperwork
• Prove that you are up-to-date on your tax filings
• Show that your debt is within the amount limitations -- combined total secured and unsecured debts are less than $2,750,000. For cases filed between April 1, 2022 and March 31, 2025 the limits are $465,275 for unsecured debts and $1,395,875 for secured debts.
• Have proof of employment and that you earn enough income to pay a monthly payment plan while being able to live comfortably

If you are facing debt and you are unsure if you are eligible, do not hesitate to speak with experienced Chapter 13 bankruptcy lawyers at Law Office of Kimberly A. Sheek. Phone consultations are free of charge -- simply dial (704) 842-9776 to get started today.

What to Expect in Chapter 13

During a Chapter 13 case, a trustee will be appointed to review the proposed repayment plan from the debtor. There will be a meeting of creditors where the repayment plan is discussed with creditors. Next, there will be a confirmation hearing where the court will approve or reject the proposed plan. Once the plan is approved, you must begin making payments.

Chapter 13 bankruptcy can take anywhere from three to five years, after which the remaining debt will most likely be discharged once you have completed your payments.

Free Consultation With Bankruptcy Chapter 13 Attorneys

For more information about filing for Chapter 13 or another type of debt relief option, contact my law firm. I can discuss your debts and advise you on the best possible way to resolve them.

Contact (704) 842-9776 to speak with bankruptcy Chapter 13 attorneys at Law Office of Kimberly A. Sheek.