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Chapter 13

Reorganizing and Repaying Debt


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Save your home from foreclosure or your car from being repossessed. If you have a steady income but for one reason or another have fallen behind on your monthly mortgage or vehicle payment, then a Chapter 13 bankruptcy might be a favorable option for you. A Chapter 13 bankruptcy safeguards your most valuable property, like your house and car, while seeking to foregive your unsecured debt within a time period between 3-5 years.

“In these difficult times, I strive to help my clients retain their homes and businesses because that is all they have. I work overtime to meet the needs of my clients.”
Frank J. Santomauro, Esq.
Frank J. Santomauro, Esq.
Managing Member

The truth is, no type of bankruptcy will eliminate all of your debt. There is some debt, like student loans, child support payments, and unpaid taxes, to name a few, that you will not be able to get discharged in a bankruptcy petition. You will still be responsible for these debts.

Filing a Chapter 13 bankruptcy, often times referred to as debt reorganziation, means that you (with your attorney) will create a repayment plan that will be submitted to a bankrutpcy Trustee, the legal person who is assigned to moderate your case.

Chapter 13 Bankruptcy Repayment Plan

 Again, a Chapter 13 repayment plan, by law, will last from three to five years depending on your particular case. During your Chapter 13 bankruptcy time period you would be required to make the agreed upon monthly payments to your assigned Trustee, who in turn, would submit the payments to the creditors on your behalf. At the end of your bankrutpcy time period term any remaining debt will be discharged.

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If this has happened to you, you might consider Chapter 13 bankruptcy.

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Law Offices of Frank J. Santomauro, LLC
142 South Main Ave
Scranton, PA 18504

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