Bankruptcy Attorney Robert H. Prince takes care to provide his clients with high-quality services personalized for their unique needs. He is available for professional, courteous, and efficient consultation, Monday through Saturday. Serving Rockingham County, NH, Strafford County, NH, Essex County, MA, Middlesex County, MA.
One of the professional services he provides includes: Chapter 13 Bankruptcy
Chapter 13 Bankruptcy Attorney
Law Office of Attorney Robert H. Prince Services
Emerge from Bankruptcy with a Fresh Financial Start!
When facing overwhelming debts, it may seem like bankruptcy is the only option. Unfortunately, for thousands of individuals throughout New Hampshire, and Massachusetts filing for Chapter 13 bankruptcy is a reality they are forced to face.
Attorney Prince understands the anxiety and legal complications involved in a Chapter 13 bankruptcy. From negotiating your repayment plan to providing experienced legal guidance throughout the duration of your bankruptcy, he is ready to take on your case and help create an effective Chapter 13 bankruptcy strategy.
Pros and Cons of Chapter 13 Bankruptcy
Essentially, when you file for Chapter 13 bankruptcy, you often propose a 3-year or 5-year repayment plan, which allows your future income to pay off a portion of your unsecured debts. Unlike Chapter 7 bankruptcy, Chapter 13 often means that you can avoid foreclosure on your home, make up missed car or mortgage payments, pay your back taxes, and stop interest from further accruing on tax debts, among many other benefits. Furthermore, because Chapter 13 bankruptcy repayment plans can be flexible, you may be able to stretch out your payments or, in some cases, reduce your payments.
There are also several unavoidable disadvantages related to Chapter 13 bankruptcy, including:
- It can take upwards of 5 years to pay off your debts
- You must pay your debts out of disposable income after paying for necessities (food, shelter, medical care, and others)
- Chapter 13 bankruptcy can ruin your credit for up to 7 to 10 years
- You can lose all your credit cards
- It will be more difficult to apply for Chapter 7 bankruptcy later
- Chapter 13 bankruptcy does not cover alimony, child support, student loans, and others
Like Chapter 7 bankruptcy, however, there are certain state and federal exemptions. New Hampshire and Massachusetts are some of the few states that allow residents to choose between whether they’d prefer the state or the federal exemptions, and the benefit of each is dependent on your unique financial situation.
For Legal Help With Your Bankruptcy, Call Attorney Robert H. Prince
While under the duress of massive debt, it can feel as if you’ll never be able to be free of constant calls, letters, and warnings from your creditors. Fortunately, by filing for Chapter 13 bankruptcy, you can escape your debts and put your finances back on track. Due to the complexities and the importance of this action, it is highly advised that you acquire the counsel and services of an experienced bankruptcy attorney.
At the Law Office of Robert H. Prince, I put your financial interests at the forefront of our bankruptcy strategies. I’ll guide you through this process with experienced legal advice. For a free consultation, call the Law Office of Robert H. Prince today at 617-721-9141 or 603-401-0409.