Chapter 13 Equity
My name is Ron Drescher. I’m an attorney practicing bankruptcy and creditor’s rights in Maryland, Delaware, Pennsylvania and Virginia. And today, I want to answer the question why would you file a Chapter 13 case. There are five reasons; I’m going to answer the first one right now, which is about equity. Sometimes your assets just have too much value, and if you were to file a Chapter 7 case, then the trustee would sell your assets, and you would lose them. Chapter 13 gives you the opportunity, if the price isn’t too high, to buy back the value of your assets from your creditors over a 60‑month plan. That makes it more affordable and more reasonable for you to maintain your assets while you reorganize your debts and get the relief that bankruptcy provides. My name is Ron Drescher. I’m an attorney practicing bankruptcy and creditor’s rights. And if you have a question about whether you qualify for Chapter 13, please pick up the phone and call me. I would love to hear from you.