COVID-19 Update: We are open! However for your safety and ours during this time, we have suspended all in-office appointments. We will be consulting and handling all business via phone, email, and/or video conference. The courts have also suspended in-person hearings and will be handling everything telephonically. If you need us, whether as a new client or a current client with questions and concerns, please call or email us now. We are here to help you through this difficult time any way that we possibly can.

Articles Tagged with Mortgage Modification

Possibly, but first you need to understand that a Chapter 13 plan is not based on your income.  It does not fluctuate depending upon how much you make.  The Chapter 13 plan amount depends upon what you plan on keeping and/or what creditors you plan on paying through the bankruptcy.  For example, if you are paying for only your home through your plan, the amount of the payments will be based upon the mortgage amount then that amount spread out over the life of the plan to catch up your back notes.  This amount won’t change unless your mortgage note happens to change.

However, if you are paying for several things – such as a student loan, a vehicle, a home, and a furniture note – through your Chapter 13 plan, the payments could become lower if you decide to stop paying toward the student loan or decide to surrender a vehicle, or the home, etc.

Since a Chapter 13 plan is dependent upon who you plan to pay and what you plan to keep – you can decide to change (with some exceptions) who you are paying and/or what you are keeping in order to lower the note.

Contact Information