What is Chapter 13 Bankruptcy?

Chapter 13 bankruptcy is a form of debt consolidationChester County Chapter 13 Bankruptcy Lawyer | Stan Luongo | Luongo Bellwoar LLP  and rehabilitation for debtors that still have an income. Individuals are subject to a “financial reorganization” that is administered by a bankruptcy court. Unlike chapter 7 that relieves individuals of certain debt, chapter 13 establishes a court-approved plan to recover from debt.

A typical Chapter 13 bankruptcy case creates a plan for the debtor to repay their creditors in 3-5 years. During this period the creditors cannot contact the debtor outside of the bankruptcy court. Generally, chapter 13 cases result in the debtor paying less to the creditors than they are owed.

Why Hire a Lawyer?

When creating a plan to repay debt in a chapter 13 bankruptcy case, it is essential to have a professional to help you to navigate the legal system and negotiate a reasonable debt recovery plan. Bankruptcy lawyers exist because the benefits of having an experienced lawyer to represent you in bankruptcy court outweigh the cost of their services.

Luongo Bellwoar has consistently won Main Line Today’s Top Lawyer award for its bankruptcy services. We practice in Chester County and Delaware, Montgomery, Philadelphia, Lancaster and Berks Counties as well. We have offices in West Chester PA. Our West Chester office is within a short walking distance of the Chester County courts.

Contact us to set up an appointment

If you are considering filing for bankruptcy or want a legal consultation to explore your options, give us a call (610-430-6600). We return calls promptly and offer weekend and evening appointments.

Have questions? View frequently asked questions about bankruptcy.