For homeowners with a regular income but insurmountable debt, Chapter 13 bankruptcy, also known as wage-earner bankruptcy, can be a transformative process. If your bills are no longer possible to handle and you’re interested in exploring bankruptcy as a solution, Behm Law Group can help you select, file, and plan for the best-suited bankruptcy type for your needs. If you’re a New Ulm, MN resident in search of financial relief, wage-earner bankruptcy may be the answer you’re looking for in order to get a handle on your financial future.
Chapter 13 Bankruptcy Is a Reliable Path Towards Debt Discharge
For individuals entirely new to the bankruptcy process, there are different “chapters” of bankruptcy that all entail different methods of debt management and relief. Chapter 13 bankruptcy allows you to create a repayment plan that can last anywhere from three to five years, instead of discharging your debts all at once, like some other chapters. This repayment plan is drafted and amended through the efforts of your legal team and the courts to satisfy the requirements of your repayment without requiring you to relinquish all of your assets.
How Wage-Earner Bankruptcy Can Help You Keep Your Home
Individuals with significant debt and no clear way out often find themselves struggling to keep their homes. With wage-earner bankruptcy, you may be able to prevent foreclosure while still paying your debts. If you’re earning a regular wage and are invested in keeping your home safe from foreclosure proceedings, Chapter 13 bankruptcy may be what you need to pause the process and make a dent in your debt.
How Our Law Professionals Can Help
At Behm Law Group, we work closely with filers to create a plan that best suits their ability to continue to live and work while still managing their debt. Our experienced bankruptcy lawyers will guide you through the entire process and help with any and every aspect of your filing. A wage-earner bankruptcy plan is an excellent way to work towards financial freedom without having to start from zero. If you’re not sure which chapter of bankruptcy best suits your needs, our consultations and support can help you understand the potential benefits of a wage-earner bankruptcy plan and more.
New Ulm, MN homeowners interested in beginning the bankruptcy process can contact Behm Law Group today at (507) 387-7200, send us an email, or visit our website. Find out more about wage-earner bankruptcy by calling and making your appointment.
