Chapter 13 Bankruptcy Lawyer in Cleveland

HANDLING CHAPTER 13 FILINGS FOR OVER 17 YEARS

At The Romano Law Firm, our primary objectives are to protect your best interests and give you peace of mind throughout the bankruptcy process. We understand that you are under a great deal of stress, and it is our mission to lighten your load by providing clear, thoughtful counsel and strategic representation on your behalf.

Our empathetic approach sets us apart from large bankruptcy firms with thousands of other clients. We also offer our years of experience and in-depth knowledge of the rules of bankruptcy law, civil procedure, and so forth. We can work with you to determine if filing for Chapter 7 or Chapter 13 is right for you.

Since 2003, our firm has helped many individuals, families, and businesses navigate various financial situations and obtain debt relief. We are prepared to do the same for you – starting with a free consultation.

Is Chapter 13 Bankruptcy Right for You?

Chapter 13 bankruptcy is often an option for debtors who do not qualify for Chapter 7 bankruptcy.

In order to be eligible for Chapter 13 bankruptcy, the following must be true:

• You are filing as an individual or part of a married couple.
• You have completed credit counseling.
• You have submitted or are willing to submit a complete list of all your creditors, including the amount you owe to each.
• You are employed and able to provide information about your income. (Self-employed individuals may also file.)
• You have large assets you wish to protect, such as real estate or other real property.

Chapter 13 bankruptcy may be a favorable solution for you and your loved ones if you are unable to continue paying off your debts due to a financially devastating life event, such as:

• Job loss and inability to find comparable employment
• Death of a family member, especially if the deceased person was the primary breadwinner
• Serious and costly medical issues, such as cancer

What Happens in Chapter 13 Bankruptcy?

During a Chapter 13 case, the court will supervise the reorganization of your debts. This process requires you to create and submit a repayment plan. This plan will allow you to pay back at least as much of your debt as you would if filing for a different form of bankruptcy.

Your Chapter 13 plan must span between three and five years. During this time, you will make agreed-upon payments to an impartial, third party called a trustee. The bankruptcy trustee will then distribute payments among your creditors.

Once the court approves your repayment plan, you will not have to interact with your creditors at all.

Can I File for Chapter 13 Bankruptcy Without Hiring an Attorney?

No. There are certain times in life when it pays to bring in an expert – and bankruptcy is one of them. You should always consult an attorney before filing your bankruptcy petition, even if you feel certain that Chapter 13 bankruptcy is the way to go.