Boise Law Firm Advises You on Chapter 13 Bankruptcy

Guidance on debt repayment through bankruptcy

Since our founding in 2001, Gulstrom, Henson & Roark, P.C. has helped Boise clients reduce and manage debt through bankruptcy. After evaluating your financial circumstances, we advise you about whether you qualify for Chapter 7 bankruptcy, whether you are best served filing a Chapter 7 or Chapter 13 petition and if you may have other options to avoid bankruptcy and reduce your debt obligations.

Protecting your home from foreclosure

Our attorneys may recommend that you file for Chapter 13 bankruptcy if your home is at risk of foreclosure. As soon as you file your petition with the U.S. Bankruptcy Court, the banks are not permitted to begin foreclosure and must halt proceedings they started before you filed. During your bankruptcy, our law firm arranges for you to cure your delinquent mortgage debts at a feasible rate. We may also be able to negotiate new mortgage terms that permit you to make smaller, more reasonable payments in the future.

Creating a repayment plan

We submit a repayment plan with the Bankruptcy Court District of Idaho soon after we file your Chapter 13 petition. This plan details how you intend to pay back debts over a specified period of time, typically three years or five years, depending on your income. A significant aspect of your repayment plan is the potential modification of your debts. For example, we may negotiate your release from the excessive interests on a loan with the condition that you pay the principle amount over the repayment period.

Creditors in a Chapter 13 bankruptcy

In all bankruptcies, creditors are prohibited from attempting to collect on their debts outside the bankruptcy court. However, they do have an opportunity to object to approval of your repayment plan. Our Boise bankruptcy lawyers create plans in your best interests and that meet the requirements of the law. We act as your effective advocates to counter any objections by creditors regarding your plan’s fairness and legality.

To file your Chapter 13 bankruptcy petition, consult with our Nampa and Boise attorneys

For more information about Chapter 13 bankruptcy and other debt-relief options, consult with the dedicated attorneys at Gulstrom, Henson & Roark, P.C.

To schedule your free consultation, contact us online or call 208-546-9933.