St. Louis Chapter 13 Bankruptcy Attorney: What Happens at the End of Chapter 13?

Under Chapter 13 bankruptcy, you and your St. Louis Chapter 13 Bankruptcy Attorney will set up a repayment plan that lasts between 3-5 years. During that time, you will make payments to the bankruptcy trustee who will disperse that amount in pro rata shares to your creditors. But many people wonder: what happens when this period ends? Will I then have to continue paying back the debt as I was before I filed? Thankfully, no you will not. At the end of Chapter 13, most debt is charged just as it would be under Chapter 7. Once your repayment period ends, you will get a fresh start free of most debt.

St. Louis Chapter 13 Bankruptcy Attorney on Dischargeable Debt

At the end of your Chapter 13 repayment, your unsecured non-priority debt will be discharged. This can include:

  • Credit cards
  • Medical bills
  • Payday loans

Anything that has a security interest, such as a car loan or a mortgage, will still need to be repaid. A St. Louis Chapter 13 Bankruptcy Attorney will help you budget during your repayment period to make sure that once you must start resuming normal payments, it will be affordable. As an added bonus, second or third mortgages can be stripped and you may get lower interest rates on some of these loans. Your lawyer will need to discuss your specific situation to find out if this may apply to your circumstances.

At The Westbrook Law Group, we want to help people in debt get a fresh start on life. By working with a St. Louis Chapter 13 Bankruptcy Attorney, you can reorganize your debt and get your payments under control. This can help you live debt and stress free, able to enjoy life instead of living in constant worry. For a free consultation regarding your specific debt problems, contact us today.

Worried about debt? Contact a St. Louis Chapter 13 Bankruptcy Attorney today

Call The Westbrook Law Group today at (636) 493-9231

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