Chapter 13

Chapter 13 Bankruptcy in Delaware County

Filing for Chapter 13 bankruptcy allows you to create a payment plan to help lower monthly costs of a mortgage or unsecured debts. Unlike Chapter 7, where assets are liquidated to repay creditors, Chapter 13 calls for unsecured debts to be partially or completely repaid using disposable income. Types of unsecured debts may include:

  • mortages
  • credit cards
  • medical bills
  • personal loans
  • collection accounts
  • certain tax obligations


The main difference between a Chapter 7 and a Chapter 13 Bankruptcy is that in a Chapter 13 Bankruptcy the petitioner makes a monthly payment toward his or her debt. A Chapter 13 Bankruptcy filing is most commonly used in three (3) situations as listed below.

CHAPTER 13 BANKRUPTCY Situation –Example 1

An individual or married couple is facing mortgage foreclosure or a tax sale on their home. By virtue of the automatic stay in Bankruptcy, upon the Bankruptcy filing on your behalf the foreclosure or tax sale is stopped. In exchange, the homeowner will pay back the mortgage or tax arrearages interest free over a specific period of months while remaining comfortably in their home. Additionally, if any other unsecured debts exist, a percentage (depending on the debtor’s disposable income or non-exempt assets) may be repaid through the Chapter 13 Bankruptcy plan.

CHAPTER 13 BANKRUPTCY Situation –Example 2

In 2005 the Bankruptcy laws were amended. Among other changes, the medium income standards were implemented. Generally, if an individual or couple’s income exceeds the medium income for a household of their size then a Chapter 13 Bankruptcy is presumed appropriate. There are many factors used to determine if a Chapter 13 Bankruptcy is necessary based on income and therefore it is important that you consult our Delaware County Bankruptcy Attorneys to fully discuss your situation.

CHAPTER 13 BANKRUPTCY Situation –Example 3

An individual or couple has equity over and above the allowed bankruptcy exemptions in personal and/or real property. Using the “liquidation analysis” the court will mandate a payment toward unsecured debt up to the amount of the non-exempt equity or the amount of the debt itself. Although this scenario may sound confusing, the Delaware County Bankruptcy Lawyers at Sadek & Cooper Law Offices can explain if you fall into this rare category of Chapter 13 Bankruptcy.

Call our Chapter 13 Delaware County Bankruptcy Attorneys now at (610) 432-3111 for your free Chapter 13 Bankruptcy Consultation.

Reasons Why You Should let Sadek and Cooper Law Offices Help you with your Chapter 13 Bankruptcy

  • Over 1000 Satisfied Clients
  • We Answer ALL your Creditor Calls
  • Free Initial Consultation
  • Save your home from foreclosure
  • Low Flat-Rate legal fees
  • Fast and Accurate Filing
  • Payment Plans Available
  • Convenient Locations
  • Be Debt Free!
  • Super Lawyers Listed


Call Sadek & Cooper Law Offices today at (610) 432-3111 for a free and confidential consultation with one of our bankruptcy attorneys in our Delaware County law office. Our attorneys are available to discuss your specific legal situation and your options for Chapter 13 bankruptcy.


Why Choose Sadek & Cooper Law Offices as your Chapter 13 Delaware County Bankruptcy Attorney?

  • Over 1000 Satisfied Clients
  • In-office Bankruptcy Consultation
  • Super Lawyers Listed
  • Friendly, Honest and Knowledgeable Lawyers and full-time Staff
  • We answer your creditor phone calls
  • Reasonable Legal Fees
  • Six (6) Month Payment Plans
  • Member of National Association of Consumer Bankruptcy Attorneys
  • Fast answered and returned Phone Calls
  • Stop Credit Card Debt, Collections, Tax Debt or Mortgage Foreclosure
  • Convenient Location
  • Fresh Start NOW!