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Janet K. Hong and Derek Hong are the founding partners of Hong Law, PLC

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Home  >  Practice Areas  >  Personal Bankruptcy  >  Chapter 13  >  Benefits of Chapter 13 Bankruptcy

Benefits of Chapter 13 Bankruptcy

Many people have mixed feelings about filing for bankruptcy. While bankruptcy is not the best option for everyone, those who are overwhelmed with debt may realize that the financial burden is too much to carry and decide that bankruptcy is the best choice. Although there are a couple of options when it comes to bankruptcy, filing for Chapter 13 bankruptcy may be the most beneficial, depending on your situation. The Cedar Rapids Chapter 13 bankruptcy lawyers of Hong Law, PLC, will analyze your financial situation to help you determine whether Chapter 13 bankruptcy makes sense for you.

If you feel like you’re buried under a mountain of debt, our Cedar Rapids Chapter 13 bankruptcy lawyers of Hong Law, PLC, will work with you to possibly help you start on the path to greater financial security. Contact our experienced bankruptcy attorneys at (319) 294-5853 to learn more about Chapter 13 bankruptcy and how it may help you financially.

Advantages of Chapter 13

Chapter 13 bankruptcy has many benefits that should be considered. Possible benefits of Chapter 13 bankruptcy include:

  • Stopping wage garnishment
  • Discharging some debts that would be non-dischargeable in a Chapter 7 bankruptcy
  • Protecting a debtor’s cosigner from collection
  • Stopping or delaying a foreclosure on your home
  • Stopping or delaying the repossession of your vehicle

Filing for bankruptcy is not an easy decision. However, if your debts are creating an unmanageable strain on you and your family, it may be worthwhile to pursue bankruptcy. At Hong Law, PLC, our honest bankruptcy lawyers will discuss your situation with you to determine whether or not bankruptcy is the right choice.

Contact Us

If you are experiencing a personal financial crisis, the Cedar Rapids Chapter 13 bankruptcy attorneys of Hong Law, PLC, may be able to help you through the difficult process of filing for bankruptcy. Call our knowledgeable bankruptcy attorneys at (319) 294-5853 for a confidential case evaluation.

Iowa City and Coralville Office Location: 845 Quarry Rd #130
Coralville, IA 52241
Phone: (319) 354-1804
Map to our Coralville Office