How long will my Chapter 13 take? A Harrisburg Illinois Chapter 13 Attorney explains.
Some clients are considering Chapter 13, but aren’t exactly clear how long their repayment period will be. A repayment period in Chapter 13 will last between 3-5 years. A Harrisburg Illinois Chapter 13 Attorney will examine your situation to determine the best option for you. Factors we will consider might include your monthly income, the amount you owe, the amount you are behind on certain debts, as well as other factors that may impact your ability to meet your monthly obligation. By finding the right repayment plan, you can get your debt under control while keeping your home, car, and other assets.
Developing a Repayment Plan with a Carbondale Illinois Chapter 13 Attorney
In Chapter 13, certain debts need to be repaid in full. These debts include:
- Priority debt (such as child support, alimony, and back taxes)
- Mortgage arrears - the amount you are behind on your house payment
- Many secured debts, such as vehicle loans
Some people seek Chapter 13 protection because they may have fallen behind on their mortgage or car payments and are worried they will lose their property. By taking advantage of the longer repayment period, a person’s monthly payments can be lowered. This allows a filer the opportunity to catch up on past-due payments while becoming current over a period of time.
Many people want to get their Chapter 13 over as quickly as possible. This, however, may not be in a filer’s best interest. A Harrisburg Illinois Chapter 13 Attorney at The Bankruptcy Clinic will sit down and explain why a longer repayment period may be in your best interest. This way, you can meet your monthly obligation while getting current on your bills.
If you have questions about Chapter 13, a Harrisburg Illinois Chapter 13 Attorney at The Bankruptcy Clinic can help. Contact us today for a free consultation.









