Are you struggling with piling debts? Do you want to start over? Do you plan to file bankruptcy and get the weight off your chest? Chapter 13 can be your way out of this stressful situation. Chapter 13 bankruptcy is a viable option for debtors who want to pay off their debts. If you have … Continue reading “What is the Maximum Income to Qualify for Chapter 13?”
How do you choose between 7 & 13?
The choice of which bankruptcy to file is based on your financial problems. Everybody has different issues that will determine which type of bankruptcy is appropriate. If you have limited assets and income and lots of credit card debt then a chapter 7 may be appropriate. If you own a small business, then it is … Continue reading “How do you choose between 7 & 13?”
What is Chapter 13 Bankruptcy?
A chapter 13 Bankruptcy is a reorganization for individuals and marital couples. A chapter 13 can be used to stop a mortgage foreclosure and help you work out an affordable plan to save your home. A chapter 13 is also useful if you make too much money to qualify or too many assets to file … Continue reading “What is Chapter 13 Bankruptcy?”
Can chapter 13 lower my car payments?
Transcripts A Chapter 13 can be used to lower your car payment. The principal amount of the loan can be reduced to the current market value of the car and interest rates, which sometimes are as high as eighteen to twenty percent for people with bad credit, can be reduced to five or six percent.
If I file chapter 13 will I end up paying all of my debts back?
Transcript The majority of people who file a Chapter 13 do not have to pay back 100% of their debt. The payment is based on your income, your expenses, your household size, and your non-exempt assets.
What happens if my income goes down or I lose my job while I am in a chapter 13 case?
Transcript If you lose your job or your income goes down while you’re in a Chapter 13, it’s possible to modify the plan to reduce the payment or convert the Chapter 13 case to a Chapter 7.
Is It Feasible and Beneficial to File a Chapter 13 Bankruptcy Case?
Spiraling debts do not just pile up in your account books; they can add stress affecting everything in your life. Often, declaring bankruptcy can be your best option. You will need a chapter 13 lawyer to advise you on the process. How Does Chapter 13 Work? Theoretically, Chapter 13 of the bankruptcy code gives you … Continue reading “Is It Feasible and Beneficial to File a Chapter 13 Bankruptcy Case?”