Knoxville Chapter 13 Bankruptcy Lawyer

The Knoxville bankruptcy attorneys of Saffa Law Group, P.L.L.C. , have had a great deal of experience helping clients file for Chapter 13 bankruptcy over the years and will work to the best of their ability to aid you on your journey to a more secure financial future. Chapter 13 bankruptcy is essentially the reconfiguration of one's debts to pay off creditors over a period of 3-5 years.

Many Knoxville residents opt for Chapter 13 bankruptcy to have a fair chance at paying down their debts and on much better terms. These terms could include the added benefit of having little to no interest added to their payments. The option for Chapter 13 is available to debtors who are employed earning a steady income. The court system is responsible for carrying out this entire process, therefore, it is of utmost importance to obtain the assistance of a Knoxville Chapter 13 bankruptcy attorney who will keep your best interest at heart and will steadfastly protect your rights.

Filing Chapter 13 Bankruptcy in Knoxville

Submission of a repayment plan proposal is required when filing for Chapter 13 bankruptcy. A qualified Knoxville bankruptcy lawyer from Saffa Law Group, P.L.L.C. will happily assist you in formulating this important documentation. An individual may qualify for Chapter 13 bankruptcy if the plan is considered executable. A client's repayment plan must follow three vital criteria: 1) It is imperative the debtor's repayment plan be presented in good faith, 2) For no less than 3 years, all income which is considered "disposable" (i.e. the amount left over after all of your monthly living expenses are subtracted from your monthly income) must be applied toward the repayment plan, and 3) A debtor must pay an equivalent amount to the sum that would have been paid back to creditors had the debtor filed for Chapter 7. 

While abiding by the payment plan of Chapter 13 bankruptcy, it is customary for the court to deduct your payments automatically from your paycheck. In doing so, the court can better ensure the legality of the agreement.  Simply considering whether or not Chapter 13 bankruptcy may be for you can be your first step in the direction toward a successful financial recovery. Enlisting a qualified Knoxville Chapter 13 bankruptcy attorney to walk you through the many details would be the best way to achieve the positive results you deserve. 

Contact a Knoxville bankruptcy lawyer at our firm for professional direction regarding Chapter 13 bankruptcy in the counties of Scott, Campbell, Claiborne, Morgan, Anderson, Union, Grainger, Roane, Knox, Jefferson, Loudon, Monroe, Blount, and Sevier.