Chapter 13 Bankruptcy Attorney in Maine
The Wage-Earner’s Plan: Filing for Chapter 13 Bankruptcy in Maine
The law office of Carl D. McCue is dedicated to providing clients in central Maine and the surrounding areas with the best legal advice and bankruptcy options available. There are quite a few different types of bankruptcy a person or business can file for, but one common type is Chapter 13 bankruptcy. Chapter 13 is sometimes referred to as, “the wage-earner’s plan.” Essentially, this type of bankruptcy allows people with what is considered to be a normal income to develop a plan to repay their debt in a more manageable way. If you believe that Chapter 13 bankruptcy is right for you, call McCue Law Office at (207) 862-5290 in Hampden, ME, or (207) 862-3500 in Bangor, ME, today for your financial fresh start!
McCue Law Office is Here to Help You With Your Bankruptcy!
Chapter 13 bankruptcy allows debtors to propose a repayment plan that those in debt can pay in installments they can afford. Instead of figuratively drowning in debt with no end in sight, Chapter 13 is a way to pay your debt based on your income. The time frame for these debts to be paid is generally three to five years, but never any more than five years. During this time, creditors or debt collectors are legally forbidden to continue collection efforts. If you are being illegally harassed by a debt collector, McCue Law Office can help. Call our office in Hampden, ME, today if you are in need of any assistance regarding bankruptcy. We are always here to help!
Advantages of Filing for Chapter 13 Bankruptcy
One of the biggest advantages of Chapter 13 bankruptcy is the fact that individuals have a better opportunity to save their homes from foreclosure. Filing under this chapter means that you are able to reinstate your mortgage, and cure any delinquent payments over time. You are also able to reschedule secured debts, other than a mortgage, and extend them over the duration of the Chapter 13 plan in order to keep your property. This plan does not require individuals to be in contact with their creditors, as they will be making the payments through a Chapter 13 trustee. This is a good option for most individuals filing for bankruptcy. In fact, Chapter 13 is also able to protect cosigners, or third parties who are liable with the debtor on consumer debts. However, every individual case is different, so contact an attorney from McCue Law Office if you need to file bankruptcy and do not know where to start. We offer comprehensive services that will take the hassle away and allow you to get back to your life!