Lofaro & Headley, LLC


Divorce And Bankruptcy Attorneys Who Will Fight For Your Rights
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Understanding Chapter 13 Bankruptcy

If you do not qualify for Chapter 7 bankruptcy, a Chapter 13 may be your best option.

A Chapter 13 bankruptcy allows a person to repay all or a portion of his or her debts under the supervision and protection of the bankruptcy court. We will work to negotiate better loan terms that are affordable and reasonable. We will help you prepare a three-to-five-year debt repayment plan, which will satisfy creditors and put you on a sustainable path to financial freedom.

Under a Chapter 13 plan, some priority debts are required to be paid in full, but many creditors will only receive a small percentage of the amount they are owed. A key difference between Chapter 13 and Chapter 7 bankruptcy is that Chapter 13 allows you to retain possession of nonexempt property that may be lost in Chapter 7 bankruptcy.

Rebuild Your Financial Future

In Chapter 13, you can still:

  • Stop the foreclosure process
  • Halt wage garnishment, judgments against you, bank levies, attachments, lawsuits and repossessions
  • Get rid of unsecured debt, including credit card debt, medical debt, personal loans and possibly some tax debt
  • Enact property exemptions for your home, car, pension, 401(k) and other assets
  • Get back on track with mortgage and auto loan payments to ensure you stay in your home and keep your vehicle(s), as long as you are able to stay current on payments

At the law office of Lofaro & Headley, LLC, in Hoboken, New Jersey, we help individuals navigate the complex process of regaining a solid financial foundation through bankruptcy. We provide hands-on assistance from the first meeting through the resolution of your case. We avoid cookie-cutter solutions by carefully reviewing each client’s situation before recommending a course of action.

Call Today To Discuss Your Options

We offer a free initial consultation during which an attorney will assess your case and provide you with an experienced opinion on what solution is best for your set of circumstances. To meet with our lawyers, call 201-467-4020 or use our contact form to schedule an appointment.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.