Chapter 13 Bankruptcy Solutions With JMH Legal Group

Managing significant debt can be stressful, but Chapter 13 bankruptcy might be the lifeline you need. No matter how much you may need the benefits of Chapter 13 bankruptcy, you still need to navigate the application process for this benefit.

At JMH Legal Group, LLC, we are proud to help individuals in the Naperville and Chicago areas find the best path to financial recovery through personalized bankruptcy solutions. As we help our clients, we also take the time to explain how Chapter 13 bankruptcy can help and how to qualify for it.

The Qualifications For Chapter 13 Bankruptcy

Chapter 13 bankruptcy is a legal process designed for individuals with a regular income who can pay back their debts over time. With this form of bankruptcy, you can consolidate your debts into a single payment plan lasting between three and five years. The payments for this plan are based on your unique income, debt and cost of living.

If you want to qualify for this option of bankruptcy, you will need to have a reliable source of regular income and enough surplus income to put toward the payments. The debt in question also needs to be within the limits of the bankruptcy code; we can help confirm if your debt qualifies.

The Benefits Of Chapter 13 Bankruptcy

Applying for bankruptcy can seem like a lengthy and complicated process, but the rewards for applying far outweigh the effort of going through the process. Here are some of the benefits you might consider:

• Protection from foreclosure: Chapter 13 can halt foreclosure proceedings and allow you to catch up on missed mortgage payments over time.
• Debt consolidation: You can consolidate your debts into one monthly payment plan, making it easier to manage your finances.
• Creditor intervention ceases: Once you file for Chapter 13, creditors must stop collection efforts, including harassing calls and letters.
• Co-debtor protection: Chapter 13 also offers protection for individuals who are co-signed on your consumer debts.

If you think you can benefit from Chapter 13 bankruptcy or if you want to confirm if you qualify, meet with our Illinois attorney today to discuss your options and how we can help you.

While our focus here is on Chapter 13, it is important to note that Chapter 11 bankruptcy, often associated with corporations, can also apply to individuals. It offers a reorganization plan for businesses or individuals whose debts exceed the limits of Chapter 13, and we can assist you with this option as well.

Take The Next Step With Us

Filing for Chapter 13 or 11 bankruptcy is a major decision to make, but it could be the right one for you. Contact our offices in Chicago and Naperville by calling 312-809-0013 or emailing us here. The sooner you reach out to us, the sooner you can receive the bankruptcy outcome you deserve.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.