Wood & Associates: Attorneys At Law

Chapter 13

We’ll Help You Navigate Bankruptcy Law

Are you struggling to get ahead of a mountain of debt? While Chapter 7 eliminates debt, Chapter 13 bankruptcy offers an opportunity to restructure your debt in order to pay installments over a period of three to five years. 

Chapter 13 can mean an opportunity to save your home from foreclosure. Under the bankruptcy terms, you can make payments to a consolidation loan under which payments are made to creditors. This way, you no longer have direct contact with creditors. 

Wood & Associates PLLC will meet with you to:

  • Go over your disposable income and assets
  • Look at the total amount of outstanding debt you have
  • Calculate an ideal payment plan
  • Learn the process of filing for Chapter 13 bankruptcy

Our goal is to help you find relief from debt while protecting your assets. 

Schedule a consultation with Wood & Associates PLLC to find out if Chapter 13 bankruptcy is right for you.

I can't say enough about how above and beyond Brigette Booser went for our family when we were in need of her legal counsel. She was very professional, compassionate, attentive, and incredibly intelligent."

Jim Bunn

Questions you may be asking:

The answer to this question depends on the type of bankruptcy you have filed. If you have filed a Chapter 7 bankruptcy, you will have to wait 8 years before you can file another Chapter 7 bankruptcy.

Not necessarily, there are exemptions in the bankruptcy code that allow you to protect certain assets. When it comes to homes, the exemption applies to the “equity” in your home. How much the home is now worth then subtracting how much is owed on the mortgage or mortgages. If the exemption covers the equity, and you still have the means to pay your mortgage after bankruptcy, then the bankruptcy court will let you reaffirm your mortgage debt.

Yes, you can own more than one vehicle when your file for bankruptcy. However, there are limitations on the exemptions that can be used to protect your vehicles. One exemption can only be applied to one vehicle. While other exemptions do not apply to any particular asset and can be applied to the same or other vehicles.