Wallingford CT Chapter 13 Lawyers
For Wallingford residents still struggling with a variety of financial problems, Chapter 13 can provide the full protection necessary to solve all types of mortgage problems and pressing debt concerns. As small financial problems increase and spread to all areas of individual and family budgets, the advice and assistance of a qualified and experienced Connecticut Chapter 13 attorney can be an invaluable first step to an overall, long-lasting financial recovery. Chapter 13 is the most comprehensive form of debt relief and mortgage assistance available to individuals and homeowners. These strong federal laws were written and revised over decades, all for your benefit. They save homes, stop collection actions of any kind, preserve your assets and allow for the creation of a customized plan fit to your specific needs and financial recovery.
Chapter 13 is the leading means for solving mortgage problems, saving homes and eliminating or restructuring all other forms of debt based on your particular financial needs and income restrictions.
At the Law Offices of Neil Crane, we understand the needs and solutions for Wallingford area homeowners and individuals struggling with seemingly overwhelming debt. We’ve completed nearly 40 years of Chapter 13 solutions.
To learn how an experienced Chapter 13 attorney can address your financial problems, contact us online, or call for a free comprehensive initial appointment at 203-871-0062.
Chapter 13 Controls All Categories of Debt Relief
Chapter 13 allows individuals to resolve debt obligations of any type. Your Chapter 13 Plan specifies the treatment of all classes of debt in accordance with their importance to your financial future, including:
- Overdue past mortgage payments
- Elimination or reduction of credit card debt
- Restructuring of real estate tax obligations
- Elimination of older income taxes
Chapter 13 helps assure your success by properly prioritizing important debts for favorable repayment while eliminating unimportant debts like credit cards and unsecured obligations. Junk debt goes away so your income goes to your important bills.
Properly Created Chapter 13 Plans Assure Success
A Chapter 13 Plan is a detailed order directing the treatment of all types of debt, including elimination or reduction of your least important debts and repayment of the most important types of debt, like home mortgages and certain types of taxes over a three-to-five year Plan of Reorganization. All debts are specifically treated and outlined within the Plan drafted by our experienced bankruptcy attorneys who specialize in creating the best plan possible under the differing facts of each household’s needs and resources. Properly crafted Chapter 13 Plans are the key to long-term financial success.
Contact Us today at 203-871-0062 or fill out our simple online contact form for your free consultation with an experienced Wallingford Chapter 13 attorney.
The Automatic Stay of Chapter 13 Stops All Types of Debt Collection
There are many benefits to filing for Chapter 13 bankruptcy, including the immediate stoppage of any foreclosure actions, collection actions, lawsuits or phone calls through the creation of an automatic stay. The imposition of the automatic stay provides full protection of your assets and your income, so we can stop all actions against you and reorganize your finances. Chapter 13 allows for the immediate elimination, reduction or restructuring of every type of debt, all pre-determined by a Chapter 13 Plan we craft for your case so you can control all your old bills while starting over, including:
Credit Card Debt Elimination: As unsecured general and unproductive bills, these types of debts are by federal law always subject to complete elimination or reduction.
Income Tax Obligations: Older state and federal income taxes are subject to complete elimination. More recent income taxes can be stretched out and repaid without future penalties or charges over a three-to-five-year period. Other taxes can be eliminated or restructured based on age and amount.
Secured Obligations: These are generally mortgage and real estate obligations. They are paid in order to save homes from foreclosure. For families saving homes these are highest priority debts and are always repaid first in order to prevent home loss or any other loss of valuable assets.
Chapter 13 is a bankruptcy court protection that allows for the elimination, reduction or repayment of all forms of debt for individuals seeking to gain control of their money problems. It provides a plan for reorganization according to your regular monthly income and expenses. Chapter 13 Plans of Reorganization address all forms of debt in order of importance prioritized through a carefully crafted and customized Chapter 13 Plan. At the Law Offices of Neil Crane, our Wallingford, CT office has been the area’s largest provider of successful Chapter 13 relief since 1983.
Chapter 13 is the leading means for saving homes in the Wallingford area and allows comprehensive relief for all forms of debt in any stage of collection or foreclosure.
Removing Second Mortgage Liens, Lien Stripping and Removing Attachments in Chapter 13
Chapter 13 allows for the removal of liens or secured obligations through lien stripping. This includes court liens, tax liens, second or third mortgages, liens and all types of attachments of real estate to the extent that the value of the collateral – usually homes – does not provide equity for the lien’s position. This means that many homes will often have additional liens that can be removed in Chapter 13. Removal allows these liens to be treated as unsecured debt which can be eliminated or reduced on a permanent basis. This lien stripping procedure is a very powerful tool, particularly in our present economy, and is not available in Chapter 7 bankruptcy.
Chapter 13 allows for lien stripping of mortgages, liens and attachments that do not have underlying collateral value sufficient to treat these encumbrances as secured obligations. This powerful tool is available as your right without consent or agreement of the mortgage or lien holder.
To learn more about the benefits of Chapter 13, call our experienced Wallingford, CT Chapter 13 attorneys and see how Chapter 13 can provide you the comprehensive relief you need. Call us at 203-871-0062, or fill out our simple online Contact Form today.