Weirton Chapter 13 Bankruptcy Attorney
Repay Your Debts & Rescue Your Assets in West Virginia, Ohio, & Pennsylvania
In unstable economic times like these, many homeowners find themselves at risk of losing the assets they value most, both financially and emotionally. Filing Chapter 13 bankruptcy in West Virginia, Ohio, or Pennsylvania allows you to keep your property and pay debts over time.
More than 40 percent of the HAMP home loan modifications filed through early 2012 have failed. If you attempted a loan modification and are now facing foreclosure, we can help you rescue your home. As an experienced Weirton Chapter 13 bankruptcy lawyer, Roger A. Isla can help you take the necessary steps to protect your property by developing a plan to repay all or part of your debts.
How to Qualify for Chapter 13
Chapter 13 bankruptcy is also called a wage earner's plan, and it typically takes 3-5 years. You may qualify for Chapter 13 bankruptcy if you have enough disposable income to meet a repayment plan. Like Chapter 7, it is for both individuals and families, but it also allows you to avoid liquidating your assets.
You can qualify for Chapter 13 bankruptcy in West Virginia and the tri-state area if:
- You have sufficient income to meet your repayment plan
- Your secured debts (like a mortgage) do not exceed $1,257,850
- Your unsecured debts (such as credit card balances) do not exceed $419,275
- You are up to date with your income tax filings
Any individual who exceeds the limitation amounts must file a Chapter 11 case instead. The debt limitations are subject to change every three years, and these particular figures will apply to all Chapter 13 cases filed before April 2022.
How Chapter 13 Can Save You from Foreclosure
Once your Chapter 13 bankruptcy petition is filed, your home is protected by an automatic stay. This is a legal order that immediately stops any further communication or attempts to collect a debt by a creditor, collection agency, or government entity. The purpose of a stay is to allow the filer to catch up on their overdue payments.
The stay immediately prevents:
- Utility disconnections
- Wage garnishments
- Collection of overpaid public benefits
The stay is a temporary action, but as long as you can make the arranged payments, your property will be safeguarded under Chapter 13 bankruptcy laws. Whether your home is in Weirton, WV, or anywhere in the tri-state area, Isla Law Offices can start this process for you immediately.
Take the First Step toward a Brighter Future
We can help you keep your home and attain a fresh financial start through Chapter 13 bankruptcy. Payment of your fee is comfortably spread out over the 3-5 years you have to make your Chapter 13 payments. Make an appointment for a free consultation with Attorney Isla to determine if this form of debt relief is right for you.
25+ Years of Bankruptcy Experience
Affordable Financing Options Available
Accessible In-Person, Online & Over the Phone
Personalized Service Tailored to Each Client
Licensed to Practice in Pennsylvania, West Virginia & Ohio