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Manchester Chapter 13 Bankruptcy Lawyers

Chapter 13 Bankruptcy Lawyers Manchester, CT 

Many hardworking Manchester residents are struggling with financial difficulties and they often find themselves facing a myriad of money problems.  Problems in one area can often combine with other money issues leading to an overall financial storm.  These problems can cause a feeling of failure and overwhelm us to the point of hopelessness and financial despair.  Fortunately, bankruptcy law was created by Congress to address and solve these exact problems. After a proper legal analysis, these overlapping problems may be best resolved through some type of court protection.  A Chapter 13 bankruptcy Lawyers Manchester, CT provides protection for individuals and families seeking to protect assets from creditors and reorganize in a global manner that solves all of their financial problems.

What is Chapter 13?

Chapter 13 is a form of legal protection and federal laws for individuals in need of relief from banks, collectors or foreclosure attorneys seeking to take their homes, their paychecks and their personal assets. Chapter 13 protects all individuals with household income from any source.  It is a court-approved plan that assures the reorganization of your finances.  The plan is crafted by our experienced Manchester, CT Chapter 13 attorneys, customized to fit your individual problem in accordance with your income and your expenses.  It is a powerful federal protection.

To learn more about all the advantages of Chapter 13, call our experienced attorneys at 203-871-0062 or fill out our simple online Contact Form.  You’ll speak directly with an attorney, and we are happy to help.

Using Chapter 13 to Stop Foreclosure and Save Your Manchester Home at the Law Offices of Neil Crane

Manchester residents continue to struggle in their efforts to save their  homes from foreclosure and relieve the pressure of other overwhelming debts and the rising costs of today’s economy.  Chapter 13 is the primary method to prevent homes lost to foreclosure.  It mandates that banks need to accept missed payments on defaulted mortgages or mortgage modifications over a three-to-five-year repayment period.  Foreclosure actions are immediately stopped by the filing of a Chapter 13 petition, with regular payments to start the next month.

The filing of a Chapter 13 bankruptcy prevents home foreclosures and halts all foreclosures through the creation of an automatic stay on all collection actions, lawsuits or foreclosures.  Chapter 13 provides for the prioritized repayment of all back mortgage payments over a three-to-five-year period customized to your needs and resources.

Chapter 13 is the leading means for saving homes in Manchester.  It provides relief for all types of debt at any step in the collection process or foreclosure.

To learn more about saving homes from foreclosure call us at 203-871-0062 at the Law Offices of Neil Crane.  Or fill out our simple online Contact Form for a prompt response to your inquiry today.

Succeeding Through the Chapter 13 process

  • The key elements to success in the Chapter 13 process are exacting preparation, full documentation, and formulation of a customized and perfect Chapter 13 plan.

All Chapter 13 Plans need:

  1. Proper debt prioritization focusing limited resources on your most important obligations, with less important obligations paid only if possible.
  2. Customization of the Chapter 13: This means a plan that addresses your highest priority debts before other debts based on the specifics of your individual or family budget.

At the Law Offices of Neil Crane, successful Chapter 13 plans are created in our office in the preparation phase long before filing.  Our Chapter 13 lawyers know how to create plans customized to each person’s monthly income and expenses.

Contact Us for a free initial consultation with an experienced Manchester Chapter 13 lawyer.  Call us at 203-871-0062, or fill out our simple online Contact Form for a prompt response.

Full Debt Coverage Under Chapter 13 Bankruptcy

One of the greatest features of Chapter 13 bankruptcy is its complete coverage of all forms of debt without exception.  Chapter 13 allows the reorganization of any type of personal debt, all without the need for any court appearances.  Chapter 13 can reduce, eliminate, or restructure any type of debt, including:

  • Restructuring mortgages
  • Foreclosure problems
  • Elimination or reduction of unsecured debt
  • Elimination or reduction of under-secured debt
  • Elimination or reduction of tax debt
  • Restructuring real estate taxes

Prioritizing Debts in a Properly Created Chapter 13 Plan

Most individuals and families face a myriad of debt problems from all sides that can often get overwhelming.  Chapter 13 assures that limited family income will be used for priority debts, with less important debts only paid if extra money is available in your budget.

Chapter 13 addresses all types of debt by prioritizing repayment.  This means that important debts get paid instead of less important obligations.  A properly crafted Chapter 13 Plan will only pay debts in accordance with their legal priority:

Credit Card Debts, personal loans, medical bills and other unsecured debts that are not essential are given the lowest priority.  They are subject to reduction or complete elimination.

Mortgage Payments These are essential payments in order to preserve the family home and are treated as secured debts given the highest priority.

Real Estate Taxes   are secured by your home and are therefore given priority status and full repayment.

Federal and State Taxes  are important since recent taxes are not dischargeable under Chapter 13.  However, older state and federal income taxes can be eliminated.

Chapter 13 Bankruptcy Success at the Law Offices of Neil Crane

In the hands of our specialized Chapter 13 counsel, the entire Chapter 13 procedure is reasonably painless and completely predictable. It requires your help with our office, but never requires any in-person client appearance. It is a powerful court process created for individuals and homeowners seeking to protect their assets and obtain a financial fresh start.

To learn more about all the ways that Chapter 13 can assist you and your family, contact us at 203-871-0062.  Or fill out our simple online Contact Form for a prompt response from a Manchester Chapter 13 debt relief attorney.