Chapter 13 Bankruptcy

For those ineligible to file bankruptcy under Chapter 7, Chapter 13 still provides many of the same benefits available under Chapter 7. These include the automatic stay and discharge of debts. At The Fox Law Office, our typical fee for a Chapter 13 case is $2,750. For the reasons discussed in more detail below, it’s worth every penny.

A case filed under Chapter 13 is often called a “reorganization” because the filer’s disposable income (if any) is used to pay off his or her debts. The repayment period varies, but it is usually three to five years. In the typical case, at the end of the repayment period whatever debts that have not been paid in full are discharged. Unlike Chapter 7, the filer’s non-exempt property is not sold to pay off debts.

For people facing bankruptcy because of real estate debt, filing under Chapter 13 with Fox is the smart way to go. For example, most people considering bankruptcy know that the automatic stay will halt a foreclosure in its tracks. What most of these people do not know is that the first action the lender often takes is to ask the court to lift the stay so that the foreclosure process can continue. John’s experience in the mortgage industry as well as his experience as a civil litigator can be invaluable in this situation. Not only can we help you craft the plan with the best chance of being agreed to by your lender, John is not afraid to roll up his sleeves and stand up for your rights in court.

The value of The Fox Law Office’s multidisciplinary approach to Chapter 13 plans extends far beyond just stopping an imminent foreclosure. Consider this: historically, about two-thirds of Chapter 13 repayment plans fail. This means more stress, headaches, anxiety, and court appearances. It can even mean converting your Chapter 13 filing to a Chapter 7 and going through the entire bankruptcy process again, something no one wants to endure. We provide you with the kind of knowledge and advice the other guys can’t. Because of our experience in the mortgage industry, we understand what kinds of arrangements are likely to be sustainable and which ones aren’t. Do it right the first time with Fox.

The Fox Law Office also has the expertise to help you navigate the numerous federally-sponsored home owner assistance programs. These programs can be powerful tools to bring down your monthly mortgage payment. The more your mortgage payment can be reduced, the more likely your Chapter 13 repayment plan is likely to be approved by the court. All too often though, people in these programs agree to a payment plan that they cannot possibly sustain. In fact, recent surveys show that about 60% of the people who modify their mortgages with these programs are back in default within a year. Let The Fox Law Office use its mortgage experience to help you come up with a plan that is a true long-term solution, and not just a temporary fix.

Still not convinced? Filing with The Fox Law Office means immediate results. Here's a brief preview of what else you can expect:

• Tired of harassing phone calls and mail from creditors? As soon as you retain us, we will instruct all of your creditors to deal with us directly.

• Advice and materials that make gathering your financial information as simple and straightforward as possible.

• Paperwork processing and handling of complex bankruptcy forms and petitions. You have enough to worry about; let us handle the forms.

At the end of the day, there are two important points to make about filing for Chapter 13 with The Fox Law Office. First, the services The Fox Law Office provides to you in a Chapter 13 bankruptcy more than pay for themselves. Not only that, they can start paying for themselves almost immediately. Second, the sooner you contact us the more we can do for you. The importance of proper timing in bankruptcy cannot be overstated. Don’t shortchange yourself. Call us today at (888) 576-2285 to schedule your free, no strings attached consultation.