Chapter 13 CREATING PEACE OF MIND

Chapter 13 Bankruptcy Lawyer in Sioux Falls

Effective Bankruptcy Representation in Your Time of Need

The second most common type of bankruptcy in the U.S. is Chapter 13, or the “wage earner’s” filing. This type of bankruptcy is common among those who have enough income to create a plan to repay part or all of the debt they owe. In Chapter 13 bankruptcy, you create a repayment plan and pay monthly installments to your bankruptcy trustee over a three- to five-year period. The trustee will distribute those payments to your creditors. You will have no further direct contact with your creditors, who also will be prohibited from any further collection attempts.

Ready to discuss your financial situation? Call Ronke Law at (605) 250-9988 for a free consultation.

The Ins & Outs of Chapter 13

An advantage of Chapter 13 is that it provides an opportunity to avoid foreclosure on your home. Under this plan, you can halt foreclosure proceedings and make up your back-mortgage payments over time. Another advantage is that you can reschedule other secured debts and pay them over three to five years, which could reduce the payments.

To be eligible for Chapter 13, both your secured and unsecured debt must be less than specified amounts set by the government. You must also demonstrate to the court that you have a steady source of income that will cover both your monthly household expenses as well as your required payments under your repayment plan.

While Chapter 13 bankruptcy is not available for businesses, as an individual you can pay business-related debts in this plan if you are personally responsible for them. You may also be able to pay past-due debts such as income taxes, child support, and alimony over time.

Your monthly payments will be determined by:

  • The amount of your debt
  • The types of debt you owe
  • Your income
  • Your expenses

At the end of your Chapter 13 repayment plan, whatever debt remains on the plan will generally be discharged.

Schedule a Free Consultation Today

At Ronke Law, we can review your financial situation to help you determine if Chapter 13 is right for you. We have helped hundreds of individuals get a fresh start and find relief from the overwhelming debt they faced. Our Chapter 13 bankruptcy lawyer in Sioux Falls can carefully review your case and help you take the right step forward.

To discuss your eligibility and needs with our firm, request a consultation through our online contact form or call (605) 250-9988.

Client reviews

People Matter Most
  • Never Felt Rushed or Forced into Making Decisions Without Knowing All the Facts

    “Eric takes the time to make sure you understand everything and what is to be expected from the very beginning.”

    - Amanda W.
  • Eric Made My Bankruptcy Easy & Less Stressful

    “Eric made my bankruptcy easy and less stressful. He walked me through all of the steps needed and always answered all of my questions. I would recommend him to any of my friends/family!”

    - Carly Kay
  • Very Smooth Process

    “Was a very smooth process to set up an LLC. It really has paid off to have it all filed correctly and was able to bring up other start-up questions that are good to go over ahead of time.”

    - John H.
  • Diamond In The Rough

    “Eric, was amazing very responsive when I had questions. Explained the whole process upfront with everything.”

    - Joshua S.
  • Compassionate & Understanding

    “He is compassionate and understanding of your situation if you're filing for Bankruptcy, he is excited and your biggest supporter when getting your LLC set up, and when it comes to your will and trust he listens to whats most important to you”

    - Kyle J.
/

Ronke Law

Why We're The Best Choice For You
  • Quality Service With an Attorney Who Cares
  • 720CreditScore.com Services after Bankruptcy
  • Payment Plans Available
  • Free In-Person Consultations
  • Services Available in English & Spanish
  • Work Directly With the Attorney
Free e-Book

Download our complimentary book,
"Rebuilding Your Life After Bankruptcy"
Written by Eric J. Ronke

  • EstatePlanning.com
  • Wealth Counsel Member