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Chapter 13 Bankruptcy

Posted by Tony Senerchia Sr. | Apr 19, 2023 | 0 Comments

A lot of individuals believe that bankruptcy court is the last resort when all other options look hopeless and one is on the verge of going bankrupt.

Even bankruptcy gives some hope, because Chapter 13 of the federal bankruptcy code provides the closest thing to a gentle landing.

For good reason, Chapter 13 is commonly referred to as the wage earner's bankruptcy.

Those who are earning a living but have fallen far behind on their debts due to trying to make credit card payments should consider filing for bankruptcy under Chapter 13.

Under Chapter 13, you have three to five years to settle your debts while using all of your available funds to do so.

Living simply is required, but the Chapter 13 option enables you to pay off unsecured debt like credit card balances while making up missed mortgage payments.

If you want to file for Chapter 13, you must:

  • Earn a consistent living.
  • Not filed for Chapter 7 or Chapter 13 bankruptcy for four or more years.
  • Keep your tax filings up to date.
  • You cannot owe more than $419,275 in secured debt or $1,257,850 in unsecured debt.

The filing of a Chapter 13 petition halts any ongoing foreclosures and other debt payments.

When the court analyzes the plan, this offers you protection from creditors, but it does not get rid of the debt.

Ideally, the bankruptcy plan will release enough of your income to allow you to continue paying your mortgage on time and keep your home.

If you are interested in learning more about working with the Law Offices of Senerchia & Sheehan on your Chapter 13 Bankruptcy, reach our offices today! 

Schedule a call with one of our attorneys today: 401-615-3880

Email: [email protected] 

The Law Offices of Senerchia & Sheehan and a family-owned company with a mission of putting families first. We take great pride in being able to assist members of our community get back to a stress-free life. 

Disclaimers: This article is used for reference only and not intended to be legal advice. If you are looking for Legal counsel, please call our firm today!

About the Author

Tony Senerchia Sr.

Bar Admissions Massachusetts, 2001 Delaware, 2007 Rhode Island, 2008 Connecticut, 2009 United States Court of Appeals First Circuit, 2002 Supreme Court of the United States of America, 2009 US District Court of Rhode Island, 2009 US District Court  of Massachusetts, 2001 Education Unive...


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At Senerchia & Senerchia P.C., located in Cranston, Rhode Island, we stand with individuals and families in our community who have endured hardship or life challenges. At our firm, we focus on Short Sales, Bankruptcy, Family Law, Estate Planning, Worker’s Comp, Probate, Personal Injury, and Criminal Law. We have dedicated our careers to fighting for the rights of people in Rhode Island, Massachusetts, Connecticut, and New Hampshire.