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“10% off Chapter 7 and 13 bankruptcy filings” - More details

How can I file for Chapter 13 bankruptcy?

If you are thinking about filing for bankruptcy, it's likely that you have been dealing with debts for some time. If you have recently experienced a series of unfortunate events that have made your financial situation even worse, you may have come to the conclusion that bankruptcy is your only option.

It's important that you consider all of the options available to you before committing to bankruptcy. While bankruptcy is a great way to address serious financial situations, it's only appropriate for specific eventualities. Chapter 13 bankruptcy could be right for you if you have a stable monthly income, but you should note that it will still require a great deal of willpower and determination since you'll have to live with a strict budget for between three and five years. If you believe that you'd like to move forward by filing for Chapter 13 bankruptcy, the following are the steps that you should take.

Make sure that you qualify

Before you file for Chapter 13 bankruptcy, make sure that you satisfy all of the requirements. You must have a regular and stable income, and you must be current on all tax filings. In addition, your secured debt cannot exceed $1,184,200. If you have recently filed for bankruptcy and the filing was dismissed, you must wait 180 days before attempting to file again.

Meet with a credit counselor

Meet with a counselor from a non-profit credit counseling agency when you are considering bankruptcy. They will help you decide whether bankruptcy is the right choice for you.

Fill out the paperwork

If you are committed to filing for bankruptcy, be aware of all of the intricacies of the law. You can then fill out the necessary paperwork. This will involve you gathering information to show a complete financial picture, and must include details about your income, property, debts and monthly expenses.

Many steps in the bankruptcy process are necessary to ensure a successful outcome. Make sure that you are adequately informed and that you seek advice from qualified professionals. Filing for bankruptcy could be a positive step forward toward a future without the burden of financial stress.

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