Repaying Debts Through Chapter 13

Filing Bankruptcy and the Chapter 13 Repayment Plan Option

You spent time deciding on your family home. It has become a part of your family history because it is tied to the memories that you made in the house. When your home is in jeopardy because of mounting credit card bills or other debt, you need to explore your options to protect and save your home. Our attorneys can help you find the solution you seek.

At Sulaiman Law Group, LTD., we provide our clients with the information they need to make educated decisions about their lives. We know the law. We understand that it takes an experienced professional who has seen the full range of debt relief in order to find the best solution. Our lawyers will provide you with options and help you to choose the best one for your situation. Located in Oak Brook, Illinois, we represent clients in Chicago and the surrounding areas.


Contact our law firm to discuss Chapter 13 bankruptcy and how it can help you to save your home. Call us at 312-313-1613.


Chapter 13: Are You Sure You Want a Repayment Plan Option?

In a Chapter 13 repayment plan option, often individuals come to the bankruptcy multiple payments behind in their mortgage. For example, Blake and Crystal* were five payments behind in their mortgage. A Chapter 13 repayment plan divides arrears by 60 (which represents the number of months in five years) and adds that amount to the mortgage payment.

As a law firm, we generally steer our clients away from this type of repayment plan. Why? We find that they fail more often than not. After all, if you could not afford your payments prior to the plan, why will you be able to afford them after more has been added? Do you really want to remain in negative equity for five years?

As your attorney, we will help you to analyze these situations and find the best solution to your debt. We will not shield you from the truth. We will show you each strategy and help you find one that will get you back on your feet. Put our experience to work for you.

We want to emphasize that this type of bankruptcy is really for individuals who believe that their financial circumstances will improve. It is for people who have short-term problems who can recover from their financial circumstances.

Contact Our Chapter 13 Bankruptcy Attorneys

Our Chicago bankruptcy attorneys work with our clients to help them through this difficult time. We offer experience, professionalism and attention to detail in all of our cases. Contact us online or by calling 312-313-1613.

*Blake and Crystal are fictitious characters created for the purposes of explaining and illustrating various bankruptcy situations.