Chapter 13 Bankruptcy: What Does It Include?
Many times the media covers stories of companies filing for bankruptcy and we hear the term “Chapter 7 bankruptcy” thrown around a lot. That is something that people are a bit more familiar with, but there is also a term that bankruptcy attorneys in Henrico VA think that you should know about.
The law firm of Canfield Wells deals with Chapter 13 bankruptcy for individuals all the time. This is also sometimes known as the “wage earner’s plan”. It is a legal means of a debtor coming up with a plan to repay their debts over the period of three years. The purpose of this is to give them some breathing room and allow them time to restructure their financial life in such a way that they can start to make progress on those debts once again.
Canfield Wells has the best bankruptcy attorneys in Henrico VA to protect their clients against the possibility of having an unfavorable ruling go against them. They want to make sure that they get the best possible result for their clients in every hearing. They are understanding and professional individuals who have been through this process with plenty of clients in the past. They know that their role is to make sure that the process flows as smoothly as possible.
Bankruptcy is sometimes deemed to be a dirty word by some people who don’t have a firm understanding of exactly what it is. There are some who would like to belittle others and make them feel like they are at complete fault for the financial situation that they find themselves in. Those people likely have never been through some of the trials and tribulations that many individuals who come to Canfield Wells have been through. It is completely unfair to judge one’s experience against that of another without a full understanding of what they have been through. Instead, have compassion and understand that this can happen to anyone. We are prepared to help you today. Contact our office.