If you are employed with a steady income, but are still struggling with overwhelming debt and falling behind on your mortgage, Payne & Black, LLC can help you get relief and save your home. Chapter 13 bankruptcy allows debtors to pay off a portion of their debts in installments over a three-to-five year period under a court-ordered repayment plan and have the remainder of their qualifying debt discharged. Filed individually or jointly with your spouse, Chapter 13 bankruptcy resembles loan consolidation that lowers your monthly payments to a manageable level. With extensive experience in this field, we can help clients in the Rock Hill area and throughout South Carolina file Chapter 13 quickly and efficiently. Once you have filed for bankruptcy, your creditors must immediately stop collections efforts, including harassing letters and phone calls.
One of the many advantages of a Chapter 13 filing is that you can save your home from foreclosure. A court-issued automatic stay stops foreclosure as soon as you file your Chapter 13 petition. You can then cure your delinquent mortgage payments over your repayment period. Chapter 13 requires you to develop a plan with a reasonable schedule for bringing your past-due payments current, allowing you to keep your home. Our attorneys at Payne & Black, LLC have experience with foreclosure matters and put their knowledge to use to protect your home during the bankruptcy process.
A Chapter 13 plan restructures your secured debts so that you can pay them over a longer period, often in lower payment amounts. In addition, it may be possible to protect co-signers of certain loans to avoid putting business partners and family members at risk of loss from your bankruptcy. Our attorneys do a complete analysis of your financial situation to develop strategies and identify your best filing options.
Don’t let crushing debt drive you out of your home. Chapter 13 can protect your home, lower your monthly expenses, and allow you to discharge qualifying debt. Call Payne & Black, LLC at 803-992-8163 or contact us online to schedule your bankruptcy consultation at our Rock Hill or Columbia offices.