A Chapter 13 plan permits individuals who have a steady source of income to pay part or all of their debts under protection of the Bankruptcy Court. If you file Chapter 13, you file a petition and a plan with the Bankruptcy Court. The Bankruptcy Law requires that the payments you make through the plan to unsecured creditors have at least the value as what the creditors would have received if you had chosen to file a Chapter 7 case. Individuals, as well as persons who are self-employed or a sole proprietorship, may file a Chapter 13.
We may be able to remove a second mortgage, if you owe more money on your first mortgage than your house is worth.
If you filed more than 8 years ago, you can file again. If it has been less than 8 years, you probably can file a chapter 13 bankruptcy. I will be able to tell you what kind of bankruptcy you could file, and what would be the benefits.
No, creditors can’t stop you from exercising your right to file. Creditors will sometimes tell you that they “will not accept the filing,” or they “prevent the Court from accepting the filing.” Don’t believe these statements. Let your lawyer advise you how your plan will work.
Yes, the garnishment stops as soon as the case is filed.
No, you can file alone. This is important when one spouse has no significant debts, or when one spouse just does not want to file.
Chapter 13 mainly deals with your old bills. Payments for your usual living expenses, for mortgage or rent, food, clothing, insurance and utilities, will come out of your remaining income after your Chapter 13 plan is paid.
You will be able to keep your car and home. However, you must continue to make the monthly payments on time before and after filing.
Chapter 7 or “Straight Bankruptcy” allows an honest debtor to have the Court ‘discharge’ or cancel most debts in order to obtain a fresh start.
You have to go to a meeting called the “meeting of creditors” (341 Hearing) to meet with the Bankruptcy Trustee. Most of the time the meeting is simple and short. You will be asked about your case.
It stops wage garnishment and collection harassment, cancels out most debts, stops repossession of property and stops mortgage foreclosure.
There is no minimum, but if you only have a few small debts, I will discourage filing a bankruptcy, and instead look at other ways to solve the debt problem.
There is no fee to meet with me to learn about your options.
Sometimes yes. Generally the answer depends on how old the taxes are, but there are very technical rules. Sometimes a payment plan can be set up within a bankruptcy case.
Because the bankruptcy laws require showing all household income, but adjustments can be made on the income from the spouse who is not filing.
Yes, you must list all of them, including Student Loans, regardless of whether or not you wish to discharge the debt.
The usual time frame is 36 months. However, you can sometimes pay off your plan sooner if you wish you can extend your plan to 48 or 60 months.
Once your Petition has been completed, reviewed and signed by you, it is filed in the Bankruptcy Court with your filing fee for filing with the Court. Once filed, a case number is assigned and the automatic stay is in effect. You will receive a notice from this office when this occurs. The Court notifies your creditors that you have filed Bankruptcy. While the automatic stay is in effect, the creditors are prohibited from making direct contact with you. If a creditor should contact you after the Bankruptcy Petition has been filed with the Court, inform them that you have filed Bankruptcy and any questions should be directed to our law office. In the unlikely event the creditor has further contact with you, please contact our office immediately with the name of the creditor (or their representative), their phone number and person’s name making contact with you.
Once the automatic stay is in effect, all suits, wage attachments and other collection activities against you will be stopped
You should discuss your bankruptcy matters with this law firm. Do not discuss your matters with creditors or the Trustees. If a creditor should contact you after you have retained our service, simply tell them you have retained our law offices to represent you on bankruptcy filing and to contact our law firm in the future.