Here at Madden Law LLC, clients who are considering filing Chapter 13 bankruptcy benefit from decades of focused legal experience. For more than 20 years, attorney David Madden has provided valuable debt relief solutions to individuals and families throughout Illinois. As a member of the National Association of Consumer Bankruptcy Attorneys (NACBA) and the Chicago Bar Association, our lead attorney has strong ties to the local community and the know-how to help clients in need of financial help. If you're struggling with repaying your debt, let’s explore your options together. We’re available to talk Monday through Friday from 9 AM to 5 PM CST. Contact us today to learn how a debt repayment plan could help you take control of your finances—and your life.
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Chapter 13: A Structured Path To Debt Repayment
Chapter 13 bankruptcy allows individuals to develop a plan to repay all or part of their debts over a three- to five-year period. This form of bankruptcy enables filers to keep their property while catching up on missed mortgage or car payments. It’s often used by individuals who have fallen behind but want to maintain ownership of their home or vehicle.
The process begins by submitting the appropriate paperwork, along with a proposed repayment plan. Once approved by the court, the filer makes regular payments to a trustee, who distributes funds to creditors. This method of financial reorganization helps many consumers avoid foreclosure or repossession, while gradually eliminating eligible debt.
Chapter 13 is also known as a wage earner’s plan because it requires a steady income to make the scheduled payments. It is often a strong alternative to Chapter 7 for those who don’t qualify due to income limits or who have valuable non-exempt assets they wish to retain. In many cases, unsecured debts such as credit card balances or medical bills are only partially repaid, and any remaining balance is discharged at the end of the plan. This can provide significant relief and a path to restored consumer credit health.
We Offer Reliable Support For Debt Solutions
When it comes to selecting a law firm for help with consumer bankruptcy, you only want the best—and that’s what we provide. We’ve helped countless clients eliminate or restructure their debt through both Chapter 7 and Chapter 13 filings. We also offer debt restructuring services for business owners filing for Chapter 11 bankruptcy. Whichever type of bankruptcy best fits your needs, we can help you through the entire process.
Our team takes pride in providing high-quality representation backed by years of hands-on experience in bankruptcy courts throughout the state. Our deep knowledge of federal and state-specific bankruptcy rules helps our clients feel supported and confident every step of the way.
Start Rebuilding Your Finances Today
If you're feeling overwhelmed by debt and looking for a solution that lets you keep your assets, stop collection calls, and regain financial stability, Chapter 13 bankruptcy may be the right option for you. Our team at Madden Law LLC is ready to guide you through the process with the compassion and professionalism you deserve. Reach out today to schedule your consultation and start building a more secure financial future.