Chapter 13 Bankruptcy

Stop Foreclosure and Get Back on Your Feet

Debt Repayment through Chapter 13 Bankruptcy

• Stop foreclosure
• Stop repossession
• Stop harassment from creditors
• Stop worrying about debt!

Are you losing your home because you are months behind on the mortgage? Have you been juggling your accounts and making minimum payments to keep creditors at bay, but just can't seem to ever catch up? Chapter 13 bankruptcy puts a stop to foreclosure proceedings and gives you a chance to restructure debts.

FREE, No Obligation Consultation
Wilmington: 302-892-9200 • Newark: 302-832-1800

The Wilmington law firm of Rahaim & Saints can help you save your house and get relief from creditors. We represent couples and individuals in New Castle County and throughout Delaware in filing for personal bankruptcy protection.

Chapter 13 Reorganization — Repay Debts Over Time

Chapter 13 bankruptcy provides debt relief for:

• People with severe arrears on a mortgage who wish to avoid foreclosure
• People whose income is too high to qualify for Chapter 7 bankruptcy

Under a Chapter 13, your attorney and the bankruptcy trustee will negotiate a plan to repay a portion of your debts over time. Based on your disposable income after household expenses, you will make monthly payments for three to five years. After that, any remaining debts are discharged and you are in the clear.

Will I lose anything in a Chapter 13 bankruptcy?

No. Any foreclosure proceedings, repossessions, or collection actions are immediately halted when you file. Creditors cannot call your home or threaten lawsuits. You will not forfeit any assets or possessions.

Can't I file for Chapter 7 instead?

Not everyone qualifies for Chapter 7 bankruptcy, which wipes out qualifying debts completely. First of all, if your mortgage is in default, those past due loan payments cannot be discharged in a Chapter 7. Only filing Chapter 13 bankruptcy provides foreclosure protection.

In 2005, Congress instituted a bankruptcy means test. If you earn more than the Delaware median income, you may be required to file for Chapter 13. Although you must make payments, most Chapter 13 repayment plans settle your debts for a fraction of the total you owe.

In your FREE initial consultation, attorney Tiffany Poole can advise on whether you would pass the means test and give you an estimate of what your payments would be. Call our Wilmington office (302-892-9200) and Newark office (302-832-1800) to start your journey to debt relief.

We are a debt relief agency. We help people file for relief under the Bankruptcy Code.