Chapter 13 Bankruptcy Lawyer NH
What Is Chapter 13?
A Personal Reorganization / Repayment plan
Attorney Joseph M. Annutto is a Chapter 13 bankruptcy lawyer in Nashua New Hampshire. Chapter 13 bankruptcy is appropriate when you are trying to stop a foreclosure and wish to save your house or have income over the “Means Test.” A Chapter 13 bankruptcy can stop a foreclosure and allow you to develop a repayment plan to cure defaults on mortgage payments or simply, “catch up” on past due mortgage payments and allow you to save the house. The PLAN requires you to make payments over a 3 or 5 year repayment period.
One popular misconception is that a debtor must always pay back 100% of their debt. This is simply not true. Many, if not most, plans pay back only a fraction of the total outstanding unsecured debt.
Resource: Chapter 13 Laws in NH
We will meet to gather information about your finances. We will draft a Bankruptcy Petition for your review and signature. Once you sign the Petition, we will file it with the Court. The Bankruptcy Petition discloses your assets, liabilities, income and expenses, and other information. You can file an individual (even if you are married) or joint Petition.
Once the Petition is filed, an “Automatic Stay” is established and no creditor or collector can contact you by phone or in writing. Any lawsuits are stopped dead. A foreclosure auction is stopped. No wage garnishment case can be established and any that have been established are discontinued.
In about 30 to 40 days, you will meet with a Trustee at a creditor’s meeting. It is informal. The Trustee is not a Judge and it is not held in a courtroom. The Trustee will ask you about the accuracy and completeness of your Petition. Although it is called a Creditor’s Meeting, it is rare that an actual creditor comes to the meeting. If a creditor does attend, they are allowed to ask questions about a debtor’s assets and financial affairs. Your attorney attends the creditors meeting with you.
The Chapter 13 Trustee will also ask about the proposed plan. Most issues regarding the Plan are resolved here. If a creditor or the Trustee has an objection to the plan, then a hearing can be held before a Judge to resolve any disputes. A Bankruptcy Court Judge determines whether a PLAN is feasible and meets all the legal requirements, then the Judge can confirm a plan. If an appropriate plan cannot be developed, the debtor may be able to convert to a Chapter 7 bankruptcy and just discharge all the debt. Once the Plan is confirmed, the funds that have been and will be collected can be distributed to the creditors in accordance with the Plan’s instructions.
Benefits to Hiring a Chapter 13 Bankruptcy Lawyer
- Stop harassing calls!
- Prevent collectors from calling you at home.
- Prevent collectors from calling you at work.
- Prevent collectors from calling your neighbors or relatives
- Hello financial freedom
- Hello relief and relaxation
- Bankruptcy can turn the tables on your creditors and put you in control
- Bankruptcy can provide you with real protection from your creditors
- Bankruptcy can help you save your house
- Bankruptcy can actually help you rebuild your credit
- Save your marriage
- Stop fighting about finances
An additional benefit of filing a Chapter 13 bankruptcy is that you may be able to “strip” or discharge your second mortgage. Contact us today for a free bankruptcy consultation. 603-881-9161.
Reviewer: Rich Payne
Rating: 
“Joe’s a good lawyer. Ask lots of questions and be sure that you understand the recourse of your decisions.”