Chapter 13 Bankruptcy

Jackson Chapter 13 Bankruptcy Lawyer

If you have been trying to decide if bankruptcy is right for you, one option for individuals is Chapter 13 bankruptcy. At The Law Offices of Wes Stover, we will help you understand if Chapter 13 is right for you so you can make an informed decision. No matter your situation, don't hesitate to contact us for guidance.  

Also known as the “repayment plan” bankruptcy option, Chapter 13 is an excellent option for those that either don’t qualify for Chapter 7 bankruptcy or who want to keep their valuable property and assets (as well as possibly avoid wage garnishments). It does this by using a repayment plan, which allows you an allotted time to pay back your debts. 

Your repayment plan can be tricky to figure out, and usually, it includes just a rough estimate. Most individuals create a five-year plan, but when possible, some may opt for a three-year plan. In this payment plan, you will need to include priority debts, secured debts, unsecured debts, and trustee fees.  

To qualify for Chapter 13 bankruptcy, three things have to be true: 

  • Your debt cannot be too high (specifically, $1,395,875 of secured debt and $465,275 of unsecured debt). If your debts are too high, you do have other options, such as filing for Chapter 11 bankruptcy.  
  • You will need sufficient income. You will have to prove you can afford to pay regular obligations as well as the monthly plan payment.  
  • You are either an individual or sole proprietor. Small businesses and companies cannot file—only owners who file individually. Your attorney can help you see if you qualify and show you your options if you don’t. 

Call The Law Offices of Wes Stover today at (601) 401-8996 or contact us online to schedule a free consultation.

The Process of Filing 

Deciding if Chapter 13 is right for you can be difficult, but once you’ve made that choice, a skilled bankruptcy lawyer can help you take your next steps forward, including the following: 

  1. Take a credit counseling course. You’ll be required to do this before filing, and make sure to choose a path that has been approved by the Department of Justice U.S. Trustee Program.  
  2. File your paperwork. This paperwork should be filled out with the support of an attorney, who can help you understand the details and court expectations. Also, you and your lawyer will create a tentative payment plan, which should be sent to court, too. Soon after, you’ll receive a letter stating you have an automatic stay on debt; and your bankruptcy trustee and all creditors will also be informed. In other words, until the 341 meeting of creditors, you will not have to pay those debts.  
  3. Prepare for and then go to the 341 meeting of creditors. Give your trustee important documents such as tax returns, bank statements, pay stubs, and more. At this meeting, you will answer any additional questions your trustee will want to know, surrounding debts or assets. Your attorney is not required to come, but it may help you to have your attorney by your side.  
  4. Begin to pay debts according to your repayment plan, even if the court hasn’t confirmed it. If the court doesn’t confirm the plan, you may be able to receive refunds for your payments.  
  5. Confirm your payment plan. You have several opportunities to correct any issues in your plan. 
  6. Pay off your debts, according to your plan. Generally, your debts will be paid off in 5 years.   

Start on your path toward financial freedom with the support of our bankruptcy lawyer. We will help you decide on and write out your bankruptcy plan and guide you through the filing process so you can move forward.

Why Choose The Law Offices of Wes Stover?

  • Empowering Your Legal Journey
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    Trust in a legacy of excellence. Our track record spans over 30 years, a testament to our unwavering commitment to achieving the best outcomes for our clients. Your legal journey deserves nothing less. Let's create a brighter future.
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    Experience personalized legal support like never before. We believe in direct attorney-client collaboration. Your case matters, and our attorneys are here to work closely with you, ensuring your voice is heard and your needs are met.

Chapter 13 Bankruptcy Attorney in Jackson

Whatever you need, we are here for you. We care about your situation and understand how overwhelming and crushing debt can be. Because of this, our goal is to help you reach your financial goals. If you are in Jackson, Mississippi, or the surrounding areas of Jones County, Madison County, and Rankin County, reach out to The Law Offices of Wes Stover for guidance.

Contact our Jackson Chapter 13 Bankruptcy lawyer by calling (601) 401-8996 today!

  • "My Case Was Never Overlooked"
    Through out the years, you all have been really helpful. Now that the end of this journey has ended, I would like to say "Thank you for being understanding and ensuring that my case was never overlooked"
    - Grover H.
  • "Professional, Kind and Courteous"

    Wes is very professional, kind and courteous. Of your feelings during this hard time in your life I really appreciate him.

    - Bobbye S.
Navigating Financial Challenges with Expertise

Turn to us for comprehensive legal support, especially when facing financial challenges. Our experienced bankruptcy attorneys specialize in guiding individuals and businesses through complex situations. If you're dealing with financial difficulties, don't hesitate to contact our dedicated bankruptcy attorney for a free virtual consultation.