Wojtan, Vallone & Melin Attorneys at Law
Serving clients in Buffalo, Cheektowaga and throughout Western New York
Chapter 13 is designed for individuals with regular income who want to pay their debts but are unable to do so in a timely manner. The purpose of Chapter 13 is to enable financially distressed individual debtors to propose and carry out a repayment plan under which creditors are paid over an extended period of time.
Personal bankruptcy generally is considered the debt management option of last resort because the results are long lasting and far-reaching. A bankruptcy stays on your credit report for 10 years, and can make it difficult to obtain credit, buy a home, get life insurance, or sometimes get a job. Still, it is a legal procedure that offers a fresh start for people who can’t satisfy their debts.
The chapter of the Bankruptcy Code providing for adjustment of debts of an individual with regular income. (Chapter 13 allows a debtor to keep property and pay debts over time, usually three to five years.)
We believe that representing your future is the most important work we do and we'll work tirelessly to resolve your problems through skillful negotiation, thoughtful planning, and superior knowledge of the law. Call us today at 681-3355 for your free consultation on any legal matter. [Read More …]
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