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DeLoache Law Office 25+ Years of Excellence Helping Arkansas Families and Businesses Alike

How To File For Chapter 13 Bankruptcy in Arkansas

Call on our West Memphis bankruptcy lawyer!

Whether you have acquired overwhelming debts due to a recent job loss or unexpected medical expenses, our firm is here to provide the financial guidance you need. Chapter 13 bankruptcy can be an extremely effective tool, but may not be right for every individual's situation. That is why we offer free, no-obligations where we can assess your financial situation and help you determine the best step forward.

When you work with our West Memphis bankruptcy attorney, you will quickly realize that we are a client-centered legal team that is focused on helping you get back on your feet. We understand how hard it can be to struggle with debt, which is why we are passionate about resolving your debts in an effective manner. Let us review your situation today!

Do I qualify for Chapter 13 bankruptcy?

People often believe that bankruptcy is not right for them since they still have a job or make money every month. However, even with monthly income left over after paying bills and necessary expenses, you could still be facing severe and overwhelming debt. There is a solution for those that have enough income to work with; Chapter 13 bankruptcy is commonly known as the restructuring or reorganization chapter of bankruptcy. In this chapter, you can work with creditors to create a repayment plan that is doable for your monthly income and allows you to effectively pay off debt over time.

Some of the most helpful benefits of Chapter 13 include:

  • Restructuring of secured debts
  • Discharge a majority of unsecured debt
  • Can put a stop to foreclosure
  • You keep a majority of assets, such as car, home, and real estate
  • Puts a stop to creditor action

You will need to work with a West Memphis bankruptcy lawyer to come up with a repayment plan that creditors and the bankruptcy court will be happy with. You will also need a legal advocate to represent your interests and rights throughout the process.

If you have more questions about Chapter 13 bankruptcy or would like to discuss your financial situation, please contact DeLoache Law Office today!