What Is Meant By “Debt Restructuring”? Let Us Explain It
Any form of debt relief can sound good to a frightened debtor. When creditors begin harassment, or when wage garnishment, bank levies and foreclosure become real possibilities, debtors often look for solutions such as:
- Debt management
- Debt consolidation
- Debt negotiations and settlements
- Debt restructuring
If Lefkovitz & Lefkovitz is your debt relief resource, you can be confident in our pledge to provide the right recommendations for your individual situation. We can guide you through the steps to a fresh financial start. You may believe your case is nearly hopeless because of unpaid back taxes, troublesome child support obligations, student loan debts or a second mortgage. In fact, our Tennessee bankruptcy attorneys are well-practiced at devising the best solution for each individual debt scenario. If debt restructuring is what you need, you may be surprised to learn that Chapter 13 bankruptcy provides exactly that remedy.
There Is No Shame In Filing Chapter 13 Bankruptcy If It Is Right For You
If you elect to file Chapter 13 bankruptcy, your secured debts (such as your mortgage and car loan) will be prioritized, as well as nondischargeable debts such as student loans and back child support. Unsecured debts such as credit card debt will be set as lower priorities. Interest rates for some or all debts will be eliminated or reduced for the period of time (three to five years) of the debt repayment plan. At the end of the repayment period, remaining unsecured debt will be discharged.
That is what debt restructuring means — and debt relief is what it can accomplish.
Call Our Experienced Nashville Debt Restructuring Lawyers To Discuss Your Case
Our Nashville phone number is 615-686-2279 and our Cookeville number is 931-400-2218. We will be glad to hear from you by phone or email. We pledge to respond promptly and offer you a free consultation.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.