What will happen when I file for Chapter 13 bankruptcy?

Chapter 13 bankruptcy is also known as reorganization bankruptcy because filers will have their debt repayment plans reorganized by the federal bankruptcy courts into much more financially feasible plans. Typically, the payment period is extended to be three or five years long, which should reduce your monthly payments to amounts that you can afford.

If you would like to learn more about Chapter 13 bankruptcy or would like to speak with an attorney about your financial situation, contact the Birmingham bankruptcy lawyers of Greenway Law, LLC today by calling 205-324-4000.