1. Steps for Filing Chapter 13 Bankruptcy Complete your Credit Counseling Briefing File your bankruptcy petition in the appropriate court The court will enter an automatic stay, prohibiting creditors from taking any further collection action while the bankruptcy case is pending, or until further order...
The Chapter 13 bankruptcy process will restructure non-exempt debts on better terms over a period of several years, usually 3 to 5 years. It is especially advantageous for debtors who want to stop foreclosure or otherwise keep their house or car. The requirement here is that the individual mak...
Chapter 13 is less about the elimination of debt (Chapter 7) and more about the reorganization of your finances. The Chapter 13 process requires that the debtor (that’s what we call the person who files the bankruptcy case) make a monthly payment to a Chapter 13 Trustee for a period of...
A chapter 13 plan eliminates the challenges of managing multiple payments to multiple creditors. Instead, the debtor needs only to make one payment to the trustee, which the trustee then distributes to the debtor’s creditors. Through the repayment plan’s streamlined process and Chapter 13 bankr...
Chapter 13 bankruptcy offers people a measure of flexibility, and may be best for those with assets. There are no income limit, debt limits apply.
If you feel hopelessly burdened by your debt, Chapter 13 could be the solution for you. Read here to learn more about the process of filing for bankruptcy in New York. Who can qualify for Chapter 13 Bankruptcy? Only individuals or sole-proprietors (not businesses or corporations) can ...
Chapter 13 bankruptcy can also help you keep your vehicle. If you are behind on payments, bankruptcy can stop the repossession process. Your monthly payment to the trustee can be set up to include payment for your car, and allow you to keep the car as long as you keep up in the paymen...
Our experienced attorneys will help walk you through the process of a chapter 13 bankruptcy discharge. Call us today!
United States Courts – Chapter 13 Bankruptcy– This is the main website for the U.S. Court System. It includes information on the federal courts and their role in the bankruptcy process. The specific link provides information on the Chapter 13 process, forms, administrators, discharge and elig...
Benefits Of Chapter 13 Bankruptcy: The goal of Chapter 13 bankruptcy is to provide you with sustainable debt relief by coming up with a manageable repayment plan. This can be a complicated process and should be done with professional oversight in order to avoid mistakes. When done correctly, Ch...