What will happen when I file for Chapter 13 bankruptcy?

Chapter 13 bankruptcy is also known as reorganization bankruptcy because filers will have their debt repayment plans restructured by the federal bankruptcy courts into a more financially feasible plan. Typically, the payment period is extended to anywhere between three or five years long, which should decrease your monthly payments to an amount you can afford.

If you would like to learn more about Chapter 13 bankruptcy or would like to speak with an attorney about your financial situation, contact Tacoma, Seattle, Kirkland, Bellevue, Bremerton, Everett bankruptcy lawyer Ryan Nykamp of Bankruptcy Attorneys, PLLC today at 425-289-9873.