Chapter 13 Bankruptcy

Putting Your Debts on a Wage-Earner Plan

If you have fallen behind on your debt payments, you could be facing some very serious consequences, including foreclosure and repossession. Chapter 13 bankruptcy, also known as a wage-earner plan, is one option that may allow you to catch up with your debts.

I'm Steven Bilsky, a Memphis-based attorney with more than 30 years of Tennessee bankruptcy experience. If you are looking for a lawyer who will provide you personal guidance through the Chapter 13 bankruptcy process, don't hesitate to contact me to set up a free consultation.

Common-Sense Solutions to Everyday Problems

Throughout Chapter 13 bankruptcy you will be able to pay your debts on a three- to five-year repayment plan without any interest or late fees. Chapter 13 bankruptcy is particularly useful for catching up with debts that cannot be eliminated in Chapter 7 bankruptcy.

Chapter 13 bankruptcy payment plans are frequently called wage-earner plans because in order to qualify for Chapter 13 bankruptcy, you need to have some kind of regular income. Your monthly payments will be limited to a reasonable percentage of your income so that you can afford to make them.

The Chapter 13 bankruptcy laws are very complex, but I have handled enough of these cases over the years that I have a good sense of what to expect in a wide range of different situations.

Finding Practical Solutions to Debt Problems

Chapter 13 bankruptcy has a long history in West Tennessee. It was created in 1938, during the Great Depression, through a law called the Chandler Act, named after former Memphis Congressman and Mayor Walter Chandler, who originally proposed the concept of wage-earner payment plans.

The bankruptcy courts in the Memphis area have always taken a practical, common-sense approach to Chapter 13 bankruptcy, using payment plans to address many different types of debtor situations. To discuss whether Chapter 13 bankruptcy is right for you, contact me today.

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