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We can help you get your Chapter 13 plan approved

In a recent post, this blog reported that the United States Supreme Court recently made it clear that a bankruptcy judge's decision to not approve a Chapter 13 plan cannot be appealed to a higher court. This decision makes it all the more important for Massachusetts debtors filing a Chapter 13 bankruptcy to submit a repayment plan that the local bankruptcy court can and will approve.

Our law office has helped debtors ensure that the local court approves their Chapter 13 plans. Although every case is different and results cannot be guaranteed in an individual case, our office does know how to review a family's finances carefully. Once we have a good grasp of a family's overall financial picture, we are able to draft and prepare a Chapter 13 bankruptcy plan.

A well-crafted Chapter 13 repayment plan is required for getting a bankruptcy discharge, but it also serves many other purposes. For one, it can set up and restructure a person's finances in such a way that he or she can slowly pay down without having to cash in one's retirement, a mistake people often make when they are trying to stay out of bankruptcy. A Chapter 13 can also help a family reorganize debts that are difficult to manage, like back taxes, student loans and overdue mortgage payments.

In a Chapter 13 bankruptcy, the repayment plan is an essential feature that will, upon approval, guide how a debtor will repay all or part of his or her debts. The proper drafting of a Chapter 13 plan is critical, and our law office has considerable knowledge and experience in preparing these types of plans. For more information, interested Massachusetts residents can consult our law firm's website.

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