Can Chapter 13 Bankruptcy Help You?

by | Mar 10, 2017 | Attorney

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If you are struggling to pay your bills, you might be looking for some legal assistance. Generally, filing for chapter 13 bankruptcy in PA can allow you to restructure your repayment. By contrast, if you are looking for a way to discharge your debts completely, you might pursue a chapter 7 bankruptcy. If that’s the case, you should probably speak to a chapter 7 bankruptcy lawyer about your legal options. For restructuring your debt, though, chapter 13 might be an effective option. Here are some benefits of filing for chapter 13 bankruptcy protection.


Many homeowners seek the advice of a bankruptcy attorney because they are facing foreclosure. If you are about to lose your home, chapter 13 bankruptcy might offer you a way to keep it. Generally, this form of bankruptcy halts foreclosure proceedings. While you will have to continue to make payments during your bankruptcy, chapter 13 will typically allow you to make up for missed payments over time. If you are delinquent on your home’s mortgage, then, you should consider speaking with the skilled attorneys at The Law Offices of David M. Offen. Since they have bankruptcy experience and skill, these attorneys frequently help delinquent homeowners hold onto their houses.


No bankruptcy filing is friendly to your credit report. However, chapter 13 bankruptcy in PA may not show on your record as long as chapter 7. While a chapter 7 discharge of debts will remain on your credit report for a decade, your chapter 13 reorganization will likely only be on your report for seven years. In some cases, if you want to minimize the time that the bankruptcy appears on your credit report, then chapter 13 might be a much better solution for you than chapter 7. That said, there are times when chapter 7 is the best bankruptcy solution. If you are looking for a way to manage your debt, you should talk to an experienced attorney. Only with competent legal counsel can you feel comfortable that you are making the right financial decisions.


During chapter 13 debt restructuring, you may be able to substantially lower your debt payments. Often, those who seek this protection are better able to meet their future financial obligations. Another advantage of chapter 13 is that you don’t have to deal directly with your creditors. Chapter 13 bankruptcy will allow you to work through a trustee who is an individual who receives payments from you based on what you are able to afford to pay.

Deciding to file for any bankruptcy requires a careful legal and financial analysis. If you are trying to manage your debts, though, chapter 13 bankruptcy in PA might be the best option. Before you file, though, you should talk to a skilled and experienced bankruptcy attorney from The Law Offices of David M. Offen. The office has helped thousands of people get debt relief and have a better financial life.

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