Chapter 13
Helping you repay your debts over time without losing your hard-earned assets
Chapter 13 Bankruptcy Attorney In Memphis, Tennessee
What Is A Chapter 13 Bankruptcy?
If you're facing challenges with house or car payments, Bo Luxman can offer you the guidance and support you need with Chapter 13 bankruptcy. This process can help halt foreclosure on your home, allow you to keep your car, and possibly even reduce your car payments. Additionally, there are scenarios in which you might qualify to pay only a portion of your debt while maintaining ownership of all your assets. Even if past parking tickets have led to a lost driver's license, Chapter 13 could help reinstate it.
Bo Luxman understands the intricacies of bankruptcy law and is dedicated to navigating the Chapter 13 proceedings to work towards the best possible outcome for you. With a focus on your financial recovery, Bo Luxman is committed to serving your needs in Memphis. Contact Luxman Law Firm today to discuss how you can take advantage of the benefits Chapter 13 bankruptcy has to offer.
Call Luxman Law Firm at 901-526-7770 to schedule a consultation with a lawyer today.
How Do I Qualify for a Chapter 13 Bankruptcy?
When considering filing for Chapter 13 bankruptcy in Memphis, Tennessee, it's important to understand the income and eligibility requirements that apply. Bo Luxman, a dedicated bankruptcy law attorney, can help guide you through the process. Whether your income is from employment, Social Security, disability benefits, unemployment compensation, retirement benefits, or rental income, you may qualify for Chapter 13 relief as long as you maintain a regular payment schedule set by the court's judgment. If you're a sole proprietor or self-employed and your debts fall within specific limits, you might also be eligible.
However, individuals involved in stock or commodity brokering and corporations cannot opt for Chapter 13. Should your financial obligations stretch over three to five years, you could still qualify, pending the results of a means test. Bo Luxman is committed to carefully reviewing your financial situation and guiding you on whether Chapter 13 bankruptcy aligns with your needs. Reach out to Luxman Law Firm
at your earliest convenience to begin your journey towards financial stability.
What Happens During a Chapter 13 Proceeding?
At Luxman Law Firm, navigating the complexities of Chapter 13 bankruptcy becomes a smoother journey. Begin by determining your eligibility with the means test integral to the process. Should you qualify, filing for Chapter 13 bankruptcy can immediately halt foreclosures, wage garnishments, repossessions, lawsuits, and other creditor actions.
Bo Luxman will guide you in crafting a repayment plan that the court must approve, ensuring it meets the good faith requirement and provides unsecured creditors with at least as much as a Chapter 7 would have. Your repayment strategy will need to effectively utilize all disposable income, covering your essential expenses first. While the procedure can be intricate, Bo Luxman's dedicated guidance offers you the assurance to successfully navigate the path forward. Reach out to Luxman Law Firm today to initiate your bankruptcy journey.
Disclaimer: We are a debt relief agency. We are attorneys who help people file for bankruptcy relief under the bankruptcy code.
Have Questions?
Call Luxman Law Firm 24/7 at 901-526-7770 today to speak to an attorney.