Chapter 13 Bankruptcy in Boston
Chapter 13 lets you reorganize your debts into a manageable repayment plan instead of liquidating — the right tool when you want to keep your home or catch up on missed payments.
Parks Law Offices helps Boston-area individuals decide whether Chapter 13 fits, and guides them through it.
How Chapter 13 works
In Chapter 13, you propose a repayment plan, typically over three to five years, that consolidates what you can afford to pay toward your debts. The automatic stay stops collection activity when you file, and as long as you keep up with the plan, you hold on to your property. At the end of the plan, remaining eligible balances are discharged.
When Chapter 13 makes sense
- You're behind on mortgage payments and want to stop foreclosure and catch up over time.
- You have non-exempt assets you want to protect.
- Your income is above the Chapter 7 median, so the means test points you toward a plan.
- You have certain debts that are better handled through reorganization than liquidation.
Chapter 13 vs. Chapter 7
The short version: Chapter 7 eliminates most unsecured debt quickly but doesn't include a structure to cure missed secured payments; Chapter 13 reorganizes your debt over time and can let you keep property you might otherwise lose. The right choice depends on your income, your assets, and your goals — we'll walk through both with you.
Frequently asked questions
Can Chapter 13 stop a foreclosure?
Filing triggers the automatic stay, which halts a foreclosure, and the plan can let you cure past-due mortgage payments over time while staying current going forward.
How long does a Chapter 13 plan last?
Generally three to five years, depending on your income and circumstances.
Will I have any debt left after Chapter 13?
Eligible remaining balances are typically discharged once you complete the plan. Some obligations (like certain taxes, student loans, and support) may survive.
Do I qualify for Chapter 13?
Most individuals with regular income qualify, subject to debt limits. We'll confirm your eligibility at the consultation.
Related: Bankruptcy overview · Chapter 7 · Bankruptcy litigation
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