Chapter 13
A Chapter 13 Bankruptcy is often a great way to catch up on payments when you have gotten behind.
In a Chapter 13 bankruptcy, you enter into a court-approved bankruptcy payment plan to pay down or catch up on your debts over three to five years. As part of the Chapter 13 Bankruptcy plan, you will be required to apply all your disposable income to your bankruptcy court approved repayment plan. To file for Charter 13 bankruptcy, your petition will contain much of the same information as in a Chapter 7 bankruptcy petition, in addition you must bring to your attorney:
- your most recent tax return
- your last six months of paychecks stubs or bank statements (if self employed)
- proof that you have completed your pre-filing bankruptcy credit counseling
- show you were current on your taxes for the last 4 years
- show a realistic bankruptcy repayment plan and provide a copy of the repayment plan on each of your creditors
- make payments directly to the bankruptcy trustee, who in turn distributes the money to both your secured and unsecured creditors
When you complete your Chapter 13 bankruptcy payment plan, any remaining unpaid balances on unsecured debt owed to creditors is discharged in the bankruptcy (with some exceptions). In a Chapter 13 bankruptcy, dischargeable debts are wiped out.
How To Proceed
Call 404-348-4081 and arrange for a FREE chapter 13 bankruptcy consultation, at that time CJ will listen to you and give you some ideas for a path forward as well as explore available non-bankruptcy options that might help solve your problems.
