419-740-5935 info@counselor.pro

Toledo, OH | Chapter 13 Bankruptcy Attorney

Chapter 13 of the Bankruptcy Code is a reorganization of debts. Chapter 13 reduces your overall liability and spreads out payments to creditors over time.

Who qualifies to file for Chapter 13 in Lucas County, Ohio?

Only individuals with a regular source of income are eligible to be Chapter 13 debtors. Anyone is eligible for chapter 13 relief as long as your debts are less than $1,081,500 for secured debt and $360,525 in unsecured debt (these numbers change periodically). There are not any limits in Chapter 7.

Advantages of  filing for a Chapter 13:

  • Chapter 13 gives you a chance to save your home from foreclosure. Attorney Scott Ciolek will explain how to stop foreclosure proceedings in Chapter 13 and cure delinquent mortgage payments over time.
  • In a Chapter 13 bankruptcy, the bankruptcy judge may rewrite the mortgage on your residence and extend them over the life of the Chapter 13 plan. Doing this may lower the payments.
  • Get rid of a second mortgage on your home.
  • Protect third parties co-signers who are liable with you on consumer debts.
  • If your car was recently repossessed, we may be able to get it back.
  • In Chapter 13 you make the payments to a Chapter 13 trustee and then the payments are distributed payments to the creditors. You do not have to deal directly with creditors anymore.
  • If you have equity in real property or personal property, then there is an option under Chapter 13 to offer payment to creditors equal to payments that the creditor would receive from a Chapter 7 trustee.

How long does a Chapter 13 payment plan last?

Depending on the payment period is three to five years. The length of the Chapter 13 plan is determined by a calculation of your current monthly income.

Schedule a Free Consultation with a Toledo, OH Bankruptcy Attorney Scott A. Ciolek

If you’d like to discuss whether Chapter 13 or Chapter 7 is right for you, please contact Toledo Chapter 13 bankruptcy attorney at 419-740-5936 or use the contact form on this page.


Free Bankruptcy Consultation

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Modern Approach & Flexible Appointments

Bankruptcy attorney Scott Ciolek understands that it’s often difficult to take a day off of work or find a babysitter when you’re dealing with a financial crisis. That is why Scott utilizes technology to offer different ways of meeting with clients.  By leveraging the Internet, telephone, e-mail and fax communications, we are able to use our client’s time more efficiently. Of course, if you’d prefer to come in to the office for your appointments, that’s fine too.