It might be hard for anyone when making a decision to file chapter 13 bankruptcy. It can be extremely stressful and confusing when making this decision. Before you make any decision, it is important to take enough time to learn as much as you can about chapter 13 in detail. This helps you in planning things better. When it comes to the chapter 13 bankruptcy, it helps in reorganizing your finances, in such a way, they will be flexible for you to make payments to the creditors.

There are so many Chapter 13 bankruptcy law firms in Hampton Roads, but only some of them provide the best services to their clients. Besides, some might charge more for their services. Choose the law firms which has experienced chapter 13 lawyers. You could take the help of the client reviews online for finding the best law firm in Virginia. If you don’t have any idea about the law firms in Virginia, you could choose the law offices of John W. Lee, PC.

Who Is Eligible for a Chapter 13 Bankruptcy?

  • You must complete the credit counselling course and show the certificate as proof to the court. You must submit this proof usually 15 days after filing the bankruptcy case.
  • Your debts should not be very high to be eligible for filing chapter 13.
  • You must submit the proof of filing income tax returns. This should include the data for the last 3 to 4 years.

What Are the Benefits of Chapter 13 Bankruptcy?

  • One of the challenging problems a person who wishes to file a chapter 13 bankruptcy faces is obtaining the funds necessary to submit their case. Even though the overall fees for chapter 13 bankruptcy can be more, the upfront charges are usually less.
  • The main advantage of choosing chapter 13 is, it helps in making the monthly payments in time.
  • If you file chapter 13 bankruptcy, you don’t have to sell your house, even though you are behind making several payments. For example, if you have a car loan, you can keep your car even if you are behind on payments with chapter 13.
  • You will have an option to clear your loan usually within 3 to 5 years, depending on your income. This means no more stress. Manage your finances well to get back on track again.

Consult the help of an experienced chapter 13 bankruptcy attorney in Hampton Roads, Virginia for filing a chapter 13 bankruptcy!