chapter 13 reorganization

Chapter 13 reorganization allows consumers to restructure debt in a court approved payment plan.

Chapter 13 maybe the best option available if:

  • you are behind on your mortgage payments and want to save your home
  • you are behind on car payments and want to avoid repossession
  • you are not eligible for a chapter 7 bankruptcy

A common question that we get from consumers is why not just use a debt settlement firm? There is very little regulation related to the private debt settlement industry, and their are questions about whether many of these firms are operating legally in the State of New Mexico. The National Association of Consumer Bankruptcy Attorneys (NACBA) issued a warning regarding this industry. Click here to read the warning. A Chapter 13 repayment plan is reviewed and approved by the bankruptcy court and there are requirements that both the consumers and creditors must follow. The purpose is to provide protection for those consumers.

Call or email our office today to see if chapter 13 is right for you and your family.