Benefits of Chapter 13 Bankruptcy in Milford
Chapter 13 protection for Milford, CT residents cover the full range of all forms of debt, from mortgage debt to credit card debt, and treats each debt in order of importance. This prioritization of debt in order of importance assures that your limited financial resources are focused on home retention and other priority obligations.
Chapter 13 Places an Automatic Stay on All Forms of Collection
The filing of a Chapter 13 immediately stops all forms of foreclosure, lawsuits or other collection actions, including:
- Stops foreclosure proceedings
- Stops tax collections
- Stops lawsuits and judgments
- Stops attachments, levies and seizures
- Stops all phone calls and creditor harassment
The immediate imposition of the automatic stay allows for the uninterrupted creation and implementation of a Chapter 13 Plan of Reorganization.
Chapter 13 Prioritization of Debt Elimination and Repayment
All financial problems involve limited resources and overwhelming debt obligations. When faced with financial problems, most people try to pay all creditors, doing their best to “make everyone happy.” This is not the proper approach, since no financial problem can be solved by making everyone happy. The key to any reorganization is the prioritization of limited resources toward the most important obligation in combination with debt relief or elimination of the least important priorities like credit card debt and old unsecured obligations of low priority.
Chapter 13 provides a protection from all creditors and a schedule of repayment that properly prioritizes all Chapter 13 budgets to the preservation of homes and other critical obligations.
At the Law Offices of Neil Crane, we create Chapter 13 cases that properly prioritize and preserve resources through court protection and well-crafted Chapter 13 Plans of Reorganization.
To learn more about the benefits of Chapter 13’s protections and debt prioritizations in Milford, call us at 203-230-2233 or toll free at 1-888-249-3027, or fill out our online Contact form for a prompt response.
Customized Chapter 13 Proceedings at the Law Offices of Neil Crane
Successful financial turnarounds require a comprehensive review of all the specifics of each individual case. Every family budget is unique and created long-term solutions means through evaluations by experienced attorneys and customized solutions based on your particular debts and financial resources.
Our success is based on the specifics of your case and our years of experience. At the Law Offices of Neil Crane, we’ve been one of the leading providers of Chapter 13 bankruptcy relief for over 30 years. To understand how Chapter 13 can help you regain your financial future, call an experienced and dedicated Chapter 13 lawyer at the Law Offices of Neil Crane.
For a free consultation, call us at 203-230-2233 or toll free at 1-888-249-3027 or contact us online today.