Chapter 13 Lawyers in Little Rock, AR

If debts have you in a bind and you’re feeling your wallet straining, WH Law can help ease your worries. Our Little Rock Chapter 13 attorneys will guide you through the bankruptcy process. We’ll support you through every step and ensure you regain your financial freedom.

So, if you’re in heavy debt and need a way to recover from it, read on to learn about our Chapter 13 bankruptcy services:

What Is Chapter 13 Bankruptcy in Little Rock?

With help from a Little Rock bankruptcy lawyer, filing for Chapter 13 bankruptcy is an excellent solution for debt relief. It allows you to get rid of some debts and reorganize the rest.

This process also allows you to settle debts in a stress-free manner. After you file, the court orders creditors and collectors not to contact you again.

Additionally, you won’t have to worry about property or asset forfeiture. That means you’ll be able to keep your house, car, and other possessions!

By filing Chapter 13, you can even arrange payments over 3-5 years and begin fresh after that period ends. You can then pay off your remaining obligations at minimal costs.

Chapter 13 offers a fresh start and an opportunity for you and your family to revitalize. It will also help improve your mental and emotional well-being.

Chapter 13 & Unsecured Debt

When filing for bankruptcy and determining your monthly payments, you may only need to pay out secured creditors.

That means some unsecured debts might be exempt from repayment. This is only if your disposable income is not above the legal threshold specified by bankruptcy laws.

Other cases may require you to pay them partially. Remember, payment plans under Chapter 13 must be in the best interests of your creditors,

As a result, this can reduce the number of regular payments you are required to make on a month-to-month basis.

The Benefits Of a Chapter 13 Bankruptcy Filing

In Little Rock, filing for bankruptcy under Chapter 13 is the most popular option due to its short-term and long-term benefits. Plus, it’s less severe than a Chapter 7 bankruptcy. Here are some of the many advantages of Chapter 13 to remember:

• • Lower payments — Reduce or eliminate your unsecured debts (depending on your financial standing).
  • Less financial burden — Only required to pay off a portion of the debt you can cover.
  • A stable plan — Simply follow a payment plan ranging between 36 to 60 months (also depending on your finances).
  • Stop foreclosure — If you owe money for mortgage fees, these can be included in your payment plan.
  • Stop repossession — You can keep your car and put your late payments into your plan.
  • Prevent wage garnishment — Your take-home pay will not be seized by creditors. It will also stop wage garnishment if it has already started.
  • End the creditor harassment — No more annoying phone calls or threatening letters. The automatic stay prevents creditors from contacting you or taking any legal action against you to attempt to collect a debt.

• Free yourself from constant stress.

Eligibility Details for Chapter 13 Bankruptcy Filings

Before starting the process of filing for Chapter 13 bankruptcy, you should learn more about it in detail. In particular, you should know whether you’re eligible. Here are some of the essential requirements:

• First, you must have enough income to be able to make regular payments. This assures the court and your creditors that you will pay by the end of the scheduled duration.
• There are limits on the amount of debt an individual can have to be eligible. These limits include unsecured debts of less than $419,275 and secured debts of less than $1,257,850.
• You must be up to date on your tax filings and present four years of federal and state tax returns. These should specifically be the last four tax years before your bankruptcy filing.
• If you are filing as a business, you are not eligible for Chapter 13 but might be for Chapter 11. However, some cases exist where sole proprietors can file for Chapter 13. This is because their business and personal debts are their responsibility.

As part of your Chapter 13 plan, you will also make regular payments to a trustee. This person is in charge of distributing your funds to the right creditors. Another vital thing to note is that you cannot seek more credit unless the court allows you to do so.

Chapter 13 Discharge

Completing your Chapter 13 plan concludes the bankruptcy process with a full discharge. This is the immense relief you’re looking for when you first file for bankruptcy. Simply put, when you receive a bankruptcy discharge, creditors must leave you alone.

If they attempt to collect on any more debt, you can take legal action according to bankruptcy law. This is because you successfully paid off all debts to the bankruptcy trustee.

What Will WH Law Do?

Through Chapter 13, our team has helped many clients recover their financial health. We dedicate ourselves to helping those struggling with debt to achieve this goal!

Why? Because we enjoy using our abilities to help clients recover and rise to success.

How do we do this? We familiarize ourselves with each client’s story before beginning any work. We study your entire situation, developing our recommendations based on what works best. In some cases, filing Chapter 13 is right, and for others, it is best to file Chapter 7.

In addition, WH Law offers not only excellent Little Rock Chapter 13 attorneys but also a versatile legal team. Our attorneys have experience in a variety of cases, such as:

• Personal Injury: These include cases such as slip-and-fall, wrongful death, nursing home abuse, medical malpractice, and much more. We help clients obtain compensation from negligent parties who caused harm to them or their loved ones.
• Employment Law: These cases involve workplace discrimination, harassment, discriminatory practices, and wrongful termination. In these cases, we fight for your right to work and earn a living.
• Estate Planning & Probate Law: In these cases, we help individuals plan their wills or trusts to ensure fair distribution of assets to loved ones after they pass. We also help families navigate probate court to reach those assets from their loved ones.
• Family Law: These involve difficult cases, including divorce, child support, custody, and legal guardianship among family members. With empathy and support, our lawyers will help ease you through every step and reach the best conclusion for all.

In any and every case, we tailor our work to your specific situation and needs. We make sure you get what you deserve and need, especially in the case of dealing with lost wages and medical bills. In short, we put what is best for our clients first, no matter what.

How a Little Rock Chapter 13 Attorney Can Help

At WH Law, we are passionate about helping our clients through their legal troubles. To show you your debt relief options, we offer a free initial consultation. With our help, you’ll know the right path to take moving forward.

We will begin by exploring your individual circumstances. Our Little Rock Chapter 13 attorneys will go over your financial situation. They’ll provide suggestions that fit your needs. If you choose to work with us, we’ll do everything we can to ensure you experience a smooth bankruptcy process.

We’ll keep in touch with you at every step to ensure you’re making progress and getting closer to financial recovery. Above all else, we are devoted to helping our clients. No matter the case, we’ll do whatever is necessary for you to prosper again without setbacks or difficulty.

So, if you’re looking for Chapter 13 lawyers in Little Rock, AR, call WH Law today.