Understanding Connecticut Chapter 13 Bankruptcy

At the Law Offices of Neil Crane, we are the largest provider of Chapter 13 relief in Connecticut. Many hardworking families facing debt problems and foreclosure are encouraged to count on government programs and help from their banks. While these programs may be well intended, they have been resounding failures. The universal delay and failure of these programs is national news. Don’t rely on false promises to resurrect your finances or save your home. With the help of an experienced lawyer from The Law Offices of Neil Crane, LLC, you can successfully address all your debt and mortgage problems in a full comprehensive Chapter 13 proceeding.

Chapter 13 bankruptcy will stop foreclosure, resolve all other types of family debt, and enable you to gain control of your finances, your future, and your life.

Contact a Connecticut Chapter 13 bankruptcy lawyer at The Law Offices of Neil Crane, LLC, to learn how we can help. From offices in Hamden, Bridgeport, Waterbury, Rocky Hill, and Ridgefield, we provide Chapter 13 bankruptcy services and other debt relief solutions to clients throughout Connecticut. Since 1983, our lawyers have been helping people throughout the state file for bankruptcy, stop creditor harassment, stop foreclosure, and put an end to debt. With our diligence and expertise, we have saved thousands of family homes just like yours.

Stop Foreclosure and Other Debt Problems

For many people facing financial challenges, a properly prepared Chapter 13 bankruptcy provides overall, global solutions. Chapter 13 bankruptcy is a federal court procedure for the deceleration and repayment of mortgage obligations along with the reduction or elimination of all other forms of debt. The filing of a Chapter 13 bankruptcy creates an immediate stop – known as an “automatic stay” – of the foreclosure process, halting a pending foreclosure and allowing for repayment of the past-due mortgage installments, and other debt obligations, over a three- to five-year time period. Chapter 13 bankruptcy will allow you to begin regularly scheduled monthly mortgage payments as if no previous default had ever occurred.

Benefits of Chapter 13 Bankruptcy

Chapter 13 bankruptcy is a court-ordered procedure that enables individuals with any source of income to develop a plan to repay all or part of their debts in order of importance. Also called a “wage-earner’s plan,” Chapter 13 allows a debtor to keep their property, reduce or eliminate unimportant debts, and pay important debts over a three-to-five year period.

The benefits to filing Chapter 13 bankruptcy are plentiful in the hands of a knowledgeable, experienced attorney. At The Law Offices of Neil Crane, LLC, in Hamden, Connecticut, we use our knowledge and experience to provide customized Chapter 13 Plans that:

  • Immediately stopping foreclosure: Filing for Chapter 13 bankruptcy provides an immediate automatic stay against all creditor actions, including the immediate stoppage of a foreclosure action or sale.
  • Creating a plan for repayment: It creates a plan for the repayment of secured debt, including tax debt and defaulted mortgage obligations over three to five years. Payments are made pursuant to a court-approved Chapter 13 Plan created by our experienced counsel in accordance with Bankruptcy Code provisions and your specific household income.
  • Modification of your full obligation for the loan: Chapter 13 bankruptcy allows for deceleration of your mortgage debt so that your obligation to repay the entire loan at one time becomes a repayment plan for the arrearage over time. Regular monthly payments are resumed as of the date of your next scheduled monthly payment providing permanent solutions and saving homes.
  • An opportunity to sell your home instead of foreclosure: Chapter 13 bankruptcy may create an opportunity for the homeowner to voluntarily sell their home rather than lose it through a strict foreclosure or court-ordered judicial sale. This, of course, depends on your desire to keep the home, and your ability to pay.
  • Repayment of different types of loan obligations: Chapter 13 bankruptcy allows for repayment of other lien obligations such as delinquent taxes, water obligations, sewer obligations, state or federal taxes, and judgment lien obligations through a customized and affordable Chapter 13 repayment plan.

You may be qualified for Chapter 13 bankruptcy regardless of the type of income you earn. Income from any source can be used to obtain the protection of Chapter 13 bankruptcy relief. Most people who qualify have fallen behind in their mortgage due to some unexpected turn of events – people who lost a job but found a new one, or experienced an illness but now are able to work again. Our Connecticut Chapter 13 bankruptcy attorneys can assess your financial situation and determine the right Chapter 13 Plan for you.

Saving Homes Under Chapter 13 Bankruptcy Protection

Our statewide Connecticut, law firm has a successful record of saving thousands of homes under Chapter 13 of the Bankruptcy Code. The filing of a Chapter 13 bankruptcy at any time prior to the final approval of a strict foreclosure law day or a foreclosure by sale will provide an immediate federal court stay on all foreclosure actions while allowing borrowers time for repayment. Chapter 13 bankruptcy often represents the best – if not the only – means to save homeowners in trouble, particularly given the long history of government and banks’ unwillingness to take meaningful steps to assist homeowners in trouble. Don’t trust your home or your family finances to anyone other than the experienced debt relief, mediation and Chapter 13 lawyers at the Law Offices of Neil Crane.

Contact a Connecticut Chapter 13 Debt Reorganization Lawyer

Get answers to your questions about Chapter 13 bankruptcy. We offer a free consultation. Please do not hesitate to call us today at 203-230-2233, or complete our online contact form to discuss your questions and concerns with an experienced attorney. Call us now and speak directly with a Chapter 13 attorney. We never use voicemail.