For many people, their home and their business are two of the most important things in their lives. The desire to protect and retain these most essential assets is often overwhelming.
If you are behind on your mortgage payments and are worried about losing your home, if the taxman has been knocking at your door seeking payment of taxes owed or if you have your own business (in your name individually) which is in financial trouble, Chapter 13 may be the relief you need.
A Chapter 13 bankruptcy is called a wage earners’ plan. A Chapter 13 plan is designed to provide individuals and unincorporated businesses the debt relief they need. It is a superb tool that provides the relief necessary to assist people in saving their homes, restructuring their debt and retaining their businesses and/or sole proprietorships. At the Levine Law Office in Beverly, MA, we have over 33 years of experience working with clients to restructure their debts, their mortgage arrears or their business affairs.
When you file Chapter 13 bankruptcy, we will sit down with you and assist you in the preparation of a debt repayment plan where your debts are consolidated into one plan and you make payments under that plan over a three (3) to five (5) year period. Your plan payments are typically the aggregate of your mortgage arrears, the percentage payment to your unsecured creditors and payments in full to priority non-dischargeable creditors (ie. The IRS, MA/DOR); all payable over three (3) to five (5) years. If you succeed in making all your payments due under your Plan (while at the same time staying current with all of your ongoing monthly expenses), any eligible (dischargeable) debts remaining after your payment plan is concluded are discharged.
If you are contemplating the filing of a personal bankruptcy, it is important to work with an attorney who can provide the legal counsel you need during every step of the process. When you work with the Levine Law Office, we can assist you with the filing of all the papers required to file a Chapter 13 bankruptcy and, in so doing, crafting a repayment plan that is represents your financial situation. We know this can be a stressful time and we take pride in our ability to calm our clients’ nerves and guide them through this difficult process and in so doing making a challenging situation tolerable. When you have retained the Levine Law Office to represent you, we are dedicated to assisting you in regaining your financial equilibrium while providing the care and concern you require.
The Levine Law Office – – Providing clear solutions for your financial confusion for over thirty years! Contact us online or call today to schedule your FREE consultation and find out if bankruptcy is right for you.