Mobile Version Home
Types of Bankruptcy
Impact on Property
Impact on Debts
Chapter 7 Advantages
Chapter 7 Disadvantages
How Do I File Chapter 7
Our Chapter 7 Lawyers
Chapter 13 Advantages
Chapter 13 Disadvantages
How Do I File Chapter 13
Chapter 13 FAQs
Our Chapter 13 Lawyers
Our Practice Areas
Our Interesting Cases
Stop Foreclosure, Garnishments & Repossessions
File Chapter 13 Bankruptcy. You must:
Make Chapter 13 Plan Payments. Then over the next three to five years (the "Term" of your Chapter 13 "Plan") you must pay the Bankruptcy Trustee enough money monthly to:
Chapter 13 Has Other Benefits
- Immediately stops tax collectors, wage garnishments, foreclosures, bill collectors, lawsuits and repossessions.
- Can be filed for only $360 in court mandated fees paying nothing to your lawyer before your case is filed.
- Your legal fees are paid from money that would otherwise go to unsecured creditors like credit card companies. Simply, credit card companies pay your attorney fees effectively costing you nothing.
- "Discharges" or wipes out some – if not all – debts that you do not want to pay including credit cards, medical bills, deficiencies and the like.
- Allows you to keep property that you would lose in Chapter 7.
- Immediately stops creditors from pursuing co-signers on your debts like friends and relatives -- if you pay the debt in Chapter 13.
- Normally lasts three to five years giving you time to catch up or "cure" delinquent or past due payments on home mortgages, car payments, back taxes and the like.
- If collateral for a loan like your car is worth less than you owe, you may be able to reduce the amount you must repay on that loan and still keep your car.
- Allows you to file another bankruptcy sooner than if you file Chapter 7.
- Slightly less harmful to your credit than a Chapter 7.
- Some debts that cannot be discharged in Chapter 7 can be discharged in Chapter 13.
- You may be able to continue to operate your small business under Chapter 13, which is much more difficult under Chapter 7.
- Sometimes you don't have a choice. If you make too much money, bankruptcy law requires you to file Chapter 13 instead of Chapter 7.
- Finally, all competent Bankruptcy Lawyers require that all of their fee -- normally between $1,000 and $2,000 -- be paid before they file a Chapter 7. So do we. However, if we believe you will be successful, we will file your Chapter 13 without a retainer -- only the $360 in court mandated costs -- and agree that our attorney fees will be paid over time from money that would go to credit card and collection agencies.
Call us 24/7 toll free at (877) 886-5955 for a free consultation with one of our experienced bankruptcy lawyers so we can answer any questions that you have.
This is not intended as legal advice to you because Chapter 13 is complicated and depends on your specific circumstances. If you are considering a Chapter 13, call us toll free at (877) 886-5955 for a free consultation so we can provide legal advice tailored and specific to your unique situation. There is no obligation and the call is confidential.