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Chapter 13 Bankruptcy

What is a Chapter 13?

Chapter 13 bankruptcy may be a viable option for individuals who want to achieve debt relief but who do not qualify for Chapter 7, or who may want to protect certain assets such as a house or a car. Chapter 13 allows debtors to work out a payment plan with creditors to achieve debt relief and minimize the consequences of debt accumulation.


At the Burgess Law Firm, we are experienced in enabling our clients facing unmanageable debt restore their financial independence through Chapter 13 bankruptcy. Contact us at (870) 569-8149 to schedule a free consultation with an experienced Arkansas Chapter 13 bankruptcy attorney.


Unlike a Chapter 7 liquidation, a Chapter 13 allows insolvent debtors to keep large assets while paying sometimes only a fraction of what they owe. Debtors in Chapter 13 can prevent foreclosure and repossession and keep their property by entering into a court-approved payment plan in which they agree to repay some or all of what they owe over a three- to five-year period. Following acceptance and confirmation of the payment plan, if the debtor makes all required payments on secured and unsecured property he or she wishes to keep, the debtor is fully discharged.

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Why Chapter 13?

You may have heard Chapter 13 bankruptcy being referred to as "wage earner bankruptcy." Provided you have a regular source of income, Chapter 13 allows you to restore your financial independence through a payment plan while protecting your home, car and other assets. Thus, Chapter 13 bankruptcy allows you to:

  • Achieve debt relief through payment plans and creditor negotiations
  • Prevent foreclosure on your home or business mortgage
  • Reduce fines through payment plans negotiated with your creditors
  • Protect your car, home and other important assets from repossession or other creditor actions
  • Get a fresh start and take action toward financial independence

Contact Us Today for a Free Consultation!