The Stone Law Firm, P.C. files chapter 13 for individuals and businesses. This page outlines some general information regarding chapter 13 bankruptcy law. It is not intended as legal advice regarding your specific case. If you have questions, please contact The Stone Law Firm today to schedule an appointment.

Chapter 13 Bankruptcy—
Only individuals who earn regular income with less than $1,081,400* in secured debt and $360,475* in unsecured debt may file for chapter 13 bankruptcy, which is a payment plan lasting 3-5 years.

You may be able to stay in control of your non-exempt property in a chapter 13 bankruptcy.  A chapter 13 trustee is appointed and collects the payments each month to disburse to creditors. Part of our attorney’s fees may be paid in monthly installments through the plan payments.

In chapter 13, you may be able to stop foreclosure proceedings and stay in possession of your home or other real property if you are behind on your mortgage.  If you continue making your regular monthly mortgage payments during the bankruptcy, you can then pay the arrearage that you owe at the time of filing the bankruptcy in your chapter 13 repayment plan.

When you finish making your plan payments, you may receive a discharge for all of your dischargeable debts listed in your bankruptcy petition at the time of filing.

Please contact us today for a free initial consultation on your specific situation.

* 11 U.S.C. § 109(e) (debt limits are subject to change).