Personal Bankruptcy

Chapter 13 Requirements

When filing for a Chapter 13 bankruptcy, your attorney will file a proposed repayment plan along with the submission. Often the question arises, “how much money will be left over to allocate to your outstanding bills? Further, how much will be set aside for creditors. Claims that take priority include child support and taxes, however, unsecured debts such as medical bills and credit card debt are, most often paid in part. Unsecured debts, depending on existing judgements, can be cut down to as little as 10 cents on the dollar.

There are three general requirements that each repayment plan must pass. Our law firm is experienced in these matters and will be more than happy to discuss your case. Please call us today for your FREE case evaluation!

We also found this related article very interesting, you can find it below:

"5 of Our Favorite Tips for Dealing With Business Bankruptcy

As a business owner, the time and money spent in growing and managing my business has been worth so much. The idea of watching all of that crumble away into nothing is enough is terrifying but I have also learned that failures are simply an opportunity to learn from my previous mistakes and to take a Leap of Faith where others may quit, read full article here: http://www.huffingtonpost.com/nancy-laws/5-of-our-favorite-tips-fo_b_8266892.html"