Chapter 13 Bankruptcy

Cincinnati, Ohio, Chapter 13 Bankruptcy Attorney

Chapter 13 bankruptcy offers participants a way to both decrease excessive debt and retain all property.

Participants must meet a court-determined income-to-debt level, leaving enough disposable income to make payments to a court-appointed trustee for three to five years. At the end of the three- to five-year debt repayment plan, the remaining debt as identified in the plan is forgiven, freeing the participant from the debt and allowing him or her to retain all assets and property.

Chapter 13 bankruptcy is also useful for individuals hoping to retain ownership of their home. Participants do not have to be current on home payments in order to file for Chapter 13 bankruptcy and keep their home. In fact, filing for Chapter 13 bankruptcy can provide almost immediate protection of home ownership. For example, if a sheriff home sale or foreclosure is scheduled, filing for Chapter 13 can quickly remove the property from the foreclosure block and help you get your asset back.

Unlike Chapter 7 bankruptcy, Chapter 13 bankruptcy can protect secured debt even if the debtor is not current on debt payments. Chapter 13 bankruptcy can also be helpful in arranging a federal tax repayment plan with the IRS.

Chapter 13 bankruptcy is often used by highly leveraged individuals who were temporarily disabled or lost a job or income temporarily. If you have questions regarding Chapter 13 bankruptcy or need to immediately file for Chapter 7 bankruptcy protection to protect your home, contact the Rose Law Office. Our firm has worked exclusively in bankruptcy law for over 20 years, and has helped over 12,000 Cincinnati-area individuals reduce debt and start over.

Contact Us

Individuals can enter Chapter 13 bankruptcy voluntarily and can also be compelled into it by creditors. If you have questions regarding Chapter 13 bankruptcy, wage earner plans or debt relief, the Rose Law Office can help you; call us for a free initial consultation. We charge competitive fees, offer flexible payment schedules and are available for flexible appointments as needed. Our firm is easily located on the corner of 7th and Vine, and we also operate an office in Colerain for clients' convenience. To contact a lawyer, call 513-729-7196.