A Path Forward for Steady Income Earners
Not everyone who struggles with debt needs to start from scratch. For Memphis residents who have a reliable income but have fallen behind on payments, Chapter 13 bankruptcy may offer a clear and manageable way to regain control. At Hurst Law Firm, P.A., we help individuals use this legal option to organize debt, catch up on obligations, and move forward with confidence.
What Chapter 13 Bankruptcy Involves
Chapter 13 bankruptcy is based on creating a court-approved repayment plan that typically lasts three to five years. This plan consolidates your debts into one monthly payment, making it easier to manage while allowing you to keep your home, car, and other valued property.
One of the most powerful features of Chapter 13 is the automatic stay. Once filed, it stops foreclosure, repossession, lawsuits, and wage garnishments. This gives you time and space to address your debt in an orderly way.
Who Should Consider Chapter 13?
Chapter 13 is a strong option for those who:
- Have fallen behind on mortgage or car payments
- Need time to catch up on back taxes or child support
- Want to stop foreclosure or repossession
- Don’t qualify for Chapter 7 due to income or asset limits
By stretching payments over several years and sometimes reducing the total owed, Chapter 13 provides structure and predictability.
What to Expect During the Process
Filing starts with a full financial review, including all income, expenses, assets, and debts. A repayment plan is proposed and reviewed by a trustee and the bankruptcy court. Once approved, you’ll begin making monthly payments that go toward past-due and current obligations.
As long as payments are made on time, you remain protected from creditors. At the end of the plan, remaining unsecured debts may be discharged.
At Hurst Law Firm, P.A., we understand that debt doesn’t mean defeat. A Chapter 13 bankruptcy lawyer in Memphis, TN can help you create a plan that fits your income, protects your future, and gives you a chance to repair your financial standing—one step at a time.
