Chicago Chapter 13 Bankruptcy
Chapter 13 bankruptcy is often referred to as a wage earner's reorganization. Many debtors file a Chapter 13 case if they do not qualify for Chapter 7 bankruptcy, or if they are trying to save a home from foreclosure. Chapter 13 allows individuals with regular income to repay all or part of their debts over three to five years. As with Chapter 7 cases, the filing of a Chapter 13 bankruptcy puts in place an automatic stay, preventing creditors from acting to collect most debts.
Chapter 13 is available to individual debtors, couples, and owners of unincorporated businesses with regular income and whose secured and unsecured debts do not exceed the amounts set forth in 11 U.S.C. § 109(e).
Comprehensive Representation for Chapter 13 Bankruptcy Matters
Crane, Simon, Clar & Goodman has over forty years of experience with the most complex bankruptcy matters, including countless Chapter 13 cases. The length of a Chapter 13 case means that a debtor's financial situation and needs may change over the course of the case, requiring more active management by the bankruptcy attorney. We work with clients throughout their Chapter 13 matters, including:
- Filing a petition for bankruptcy, schedules of assets and liabilities, a schedule of current income and expenditures, a schedule of executory contracts and unexpired leases, and a statement of financial affairs;
- Appearing at the First Meeting of Creditors;
- Preparing and filing of a repayment plan;
- Appearing at the hearing to confirm the repayment plan;
- Modifying of Chapter 13 repayment plans (if necessary);
- Converting to Chapter 7 (if necessary).
Crane Simon's attorneys have well over two centuries of collective experience in debt resolution and bankruptcy law, including Chapter 13 bankruptcy. We invite you to contact Crane Simon to learn more about our firm, our experience, and our services.