When Chapter 13 Is The Best Option

Even if you have a good job and a steady paycheck, you may be facing overwhelming debt, whether as a result of a past layoff, unexpected medical expenses or significant increases in your monthly mortgage payment under an adjustable rate mortgage.

Deciding If Chapter 13 Is For You

Even though you may not qualify to discharge your debts under Chapter 7, you may still be able to get some relief by reorganizing or restructuring your debt under Chapter 13.

At the Thom Cafferty Law Office, in Toledo, we handle all matters related to Chapter 13 bankruptcy petitions, from the initial determination that Chapter 13 is the best solution for you to the review and implementation of the repayment plan. We will work closely with you to make certain that you understand your options, so that you can make informed decisions. Contact me to set up a no obligation, one-hour initial consultation.

How I Can Help

Whether you fail to qualify for a Chapter 7 bankruptcy or simply want to make a good faith effort to repay your creditors, I will sit down with you, review your income and expenses and develop a plan to repay your debts over a 3-5 year period that is within your means. A failure to comply with the terms of a repayment plan may result in the loss of the protections provided by the bankruptcy laws. Please read the attached article explaining the calculation of Chapter 13 Plan payment amounts.

In addition to your options under Chapter 13, I will also discuss services that may be available to you through credit counseling. If you file for bankruptcy, I will walk you through every step of the process, completing and filing all required paperwork, and making certain you understand the time frame, as well as the process. I will monitor your obligations to make certain that creditors do not try to circumvent the bankruptcy laws through garnishment, foreclosure or repossession.

Appearing With You In Court

Approximately 6-8 weeks after filing your Chapter 13 petition, you will be required to appear before the Standing Chapter 13 Trustee. This hearing (referred to as the Meeting of Creditors) is not in a courtroom, but at the Standing Trustee's hearing room in downtown Toledo (across the street from the Main Library and 3 blocks from the Thom Cafferty Law Office).

Acting as you attorney, I Thom Cafferty, will meet with you beforehand and appear with you during the hearing. The Trustee will ask you about your assets, income, debts, creditors and other matters related to your bankruptcy petition. The Trustee will also carefully review your Chapter 13 Plan and your petition to determine whether your plan is feasible and whether it complies with the Bankruptcy laws.

Your Advocate In Bankruptcy Court

After your hearing with the Trustee, a hearing will be held in the Bankruptcy Court (located in the Federal Courthouse, also in downtown Toledo), where the Court will determine whether your Chapter 13 Plan will be confirmed (approved). The Court will confirm your Chapter 13 Plan if it passes without objections by your creditors and the Chapter 13 Trustee, and your plan complies with the law. For many people, this may be your only appearance in court. There are many other issues that are litigated during your matter, including creditor claim objections, property valuations and lien avoidance matters. As your attorney I will advise you as to whether you will be required to attend any particular hearing.

Call My Office For A Free Consultation

If you are unsure whether or not filing for repayment is the right option for you, call my office at 419-244-0169. We can discuss your situation and review your plan for repayment. Contact my office to schedule a no-obligation, one-hour consultation and get all of your questions answered.

Please download the intake package and complete the questionnaire, and the property, income and expense schedules and bring to your consultation. Get a copy of Your free credit report.