What is Chapter 13 Bankruptcy? – Debt Relief Attorneys in New Mexico

People file bankruptcy for a number of reasons. Many of our clients find themselves in financial trouble after such life-altering events as a divorce or catastrophic medical events, leading to an over reliance on consumer debt. When you are out of a job, facing foreclosure and being harassed by creditors, the Chapter 13 lawyers at The Law Office of George “Dave” Giddens, P.C. can help you pay back your debt while retaining the assets that are most important to you.

Chapter 13 Bankruptcy Law – What is Chapter 13 Bankruptcy?

Unlike Chapter 7 bankruptcy, Chapter 13 bankruptcy is designed for debtors who have a regular income. Under Chapter 13 bankruptcy law, you’ll be allowed to come up with a three-to-five-year plan to repay some or all of your debts to your creditors.

You must prove that you have enough income to make the payments promised to your creditors. At the same time, you are allowed to keep assets like your house, while preventing foreclosure, garnishment and other actions against you.

Unique Solutions from Chapter 13 Lawyers

Our attorneys will carefully analyze your case to help you decide whether or not bankruptcy is the best option for you. In some cases, it isn’t and if this is the case, we will advise you of other solutions and refer you to someone who can help you. Our attorneys dedication to our clients’ needs has earned our firm an AV-rating from Martindale-Hubbell©, a lawyer peer-review service. The AV rating is the highest possible rating and reflects our commitment to ethics and excellence.

Contact Our Lawyers Today

When you first walk through the doors of our law firm, you’ll immediately notice the courtesy and efficacy of our staff, from our accommodating support staff to our skilled Chapter 13 lawyers. Chapter 13 bankruptcy law is complex and may seem daunting, but our lawyers can take you through the process so that you understand every step of the process. Contact us today for your free consultation.

For comprehensive legal services in the areas of commercial and consumer bankruptcy, business litigation, real estate foreclosures (lenders and borrowers) and more, contact us at (505) 916-8358 or toll-free at (877) 913-4892 today to speak with one of our attorneys in Albuquerque, NM.

The Firm is a debt relief agency that helps people file for bankruptcy under the bankruptcy code.