How Does it Work? First, fill out the free evaluation form above – it should take no more than 30 seconds and it’s 100% FREE and SECURE. After that, our office will call you to see if you’re eligible to file for bankruptcy. If you are, then you’ll speak with one of our attorneys to discuss your options.
Bankruptcy can eliminate…
- Credit Card Debt
- Hospital Bills
- Foreclosure threats
- Wage garnishments
- Calls from collectors
- Outstanding Bills
- Collection Efforts
- Various Tax Debt
Bankruptcy can help you keep…
- Assets like your car
- Your hard-earned wages
- Fixed Assets like Furniture
- Your Work Equipment
- Retirement-related Accounts
- Social Security Benefits
- Disability Benefits
Chapter 13 bankruptcy is where the court sets up a repayment plan that lasts 3-5 years and allows a person to pay back their debt at a more stable rate. Here are a few qualifications that a filer must meet before they can begin.
Debt Limits – A filer’s secured debts and unsecured debts cannot exceed certain amounts. A secured debt involves property such as your house or your car to pay for your debt. Unsecured debts include credit card debt or a medical bill. If your debt does exceed said limit, you can file for Chapter 11 bankruptcy as well.
Steady Income – The key qualification is that you have a steady income that will be able to make regular payments as well as meet your household obligations. The court will not confirm the repayment plan if your income is too irregular or low.
Not a Business – Unfortunately, Chapter 13 is not for business owners, but it is for individuals. Business-related debts that you are responsible, such as with a sole proprietorship may be able to benefit from this type of bankruptcy.
Priority Debt: This type of debt includes child support or alimony arrearages and most tax obligations.
Secured Debt: This type of debt includes car loan or mortgages, Chapter 13 protects the filer from losing these items, where Chapter 7 may cause a filer to sell these kinds of items to pay your debts.
Unsecured Debt: Debt that involves medical bills or credit cards that will be sold off to pay your debts.
Value of nonexempt property: If you can afford to do so, in Chapter 13 bankruptcy, this involves keeping certain property that you own. You will have to pay the value of any property that you can’t protect with an exemption through your plan.
- Chapter 7, which is known as liquidation bankruptcy, involves selling some or all of your property to pay off your debts. This is often the choice if you don’t own a home and have a limited income.
- Chapter 13, also known as a reorganization bankruptcy, gives you the chance to keep your property (including secured assets like your home and car) if you successfully complete a court-mandated repayment plan that lasts between three and five years.
Bankruptcy can sound scary, but it might be a necessary step to realign your finances and move forward without debt piling ever higher upon you. No matter what, reach out for help with professional advice and stay informed on your rights and options—your situation is never hopeless.