Tucson Chapter 13 Bankruptcy Attorney

In order to determine the average monthly payment for Chapter 13, it helps to understand a little bit about what's involved in filing this type of bankruptcy. Chapter 13 is designed for individuals with regular income that have more debt than they can afford to repay within three years through their current income. It's also called wage earner bankruptcy because typically the debtor has a steady income, but the payment on one or more debts is more than what they are making. To make matters worse, many of these individuals also have their tax returns garnished, which means that the IRS has taken money out of their paycheck to pay off a debt.


Tucson Bankruptcy Lawyers Advise Filing Chapter 13 If you are struggling to pay off your debts, it's important to know that Chapter 7 isn't the only option available. Many individuals may qualify for Chapter 13 bankruptcy, which is often called wage-earner bankruptcy.


Tucson Bankruptcy Attorneys Discuss How To File For Chapter 7 Bankruptcy Closing a business can be a very difficult proposition, but you have a few options to help protect your employees and others involved in the closing process. One of the most important things that must be done is to notify any debtors, which includes employees who may not be getting paid as their last paycheck before closing.


It's important to understand that Chapter 13 differs from Chapter 7 because it involves taking care of certain debts through the repayment plan instead of immediately erasing the debt. This means that monthly payment obligations are created by this type of bankruptcy, but monthly costs can be adjusted to accommodate individuals with small incomes and limited resources. Because both options work differently, it's important to discuss your situation with an experienced bankruptcy attorney.

Eric Ollman has been a Tucson Chapter 13 bankruptcy lawyer since 2005 and is involved in cases taken through the courts, as well as individual negotiations between debtors and their creditors. He also works directly with clients who need help filing for bankruptcy.

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