Nashville and Middle Tennessee Debt Adjustment Attorney David F. Cannon
Perhaps the most important part of any Chapter 13 filing is the Chapter 13 plan. The Chapter 13 plan is your proposal to repay your creditors. Your creditors will be sorted into three groups: your priority creditors, your secured creditors and your unsecured creditors.
Priority claims must be paid in full. Secured creditors must be paid the value of the collateral. If you have owned your car for longer than 910 days (two and a half years) and want to keep it, your creditor must receive at least the value of the car. If your car is worth less than what you owe on it, Chapter 13 bankruptcy can offer you substantial savings and reduce your interest rates on your automobile.
Unsecured creditors do not have to be paid in full, if you pay all of your disposable income to your payment plan over the length of the plan. In most cases, your repayment plan will take place over 60 months, although in certain instances, your plan may take as little as 36 months. A longer plan reduces your payments.
At the law firm of David F. Cannon, we have proposed countless Chapter 13 repayment plans since 1991, when David F. Cannon began practicing law. Our law firm will do everything we can to prepare a plan that meets your needs and helps you achieve financial relief.
Once our lawyers prepare your repayment plan, your creditors will have a chance to discuss certain parts of your plan at the Meeting of Creditors. In some cases, creditors may object to repayment terms, interest rates or other parts of our plan. You can depend on our law firm to forcefully and persuasively argue on your behalf. After your plan is approved, the Chapter 13 bankruptcy trustee will begin distributing your payments to your creditors as soon as possible.
Contact Nashville Chapter 13 Bankruptcy Repayment Plan and Confirmation Hearing Attorney David F. Cannon
To learn more about how Chapter 13 bankruptcy can work for you, call 615-800-3725 or toll free at 877-696-8680. You may also e-mail our law firm to schedule a consultation.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
