Chapter 13 Bankruptcy

A Chapter 13 Bankruptcy is sometimes considered a debt consolidation or debt reorganization.  In a Chapter 13 bankruptcy many people are not required to pay back all of their creditors.  In a Chapter 13 Bankruptcy, you have a monthly “plan” payment you make to a Trustee and the Trustee pays your creditors.  A Chapter 13 lasts between 3 and 5 years.  Come see what plan would best fit your situation. A Chapter 13 bankruptcy is a powerful tool to pay creditors on terms that are favorable to you. A Chapter 13 bankruptcy allows you to keep property which you are delinquent on or that has equity.

Chapter 13 bankruptcy plans are complicated and require precision.  A Chapter 13 bankruptcy attorney at Jakob-Barnes Law Firm, LLC will be more than happy to prepare a plan that best fits your situation.  Call now for a free consultation!

Who would benefit from a Chapter 13 bankruptcy?

People who:
  • Are behind on their house or car
  • Are facing a foreclosure or repossession
  • Owe taxes and/or child support
  • Have non-exempt equity in property


Get A Fresh Start With A Chapter 13 Bankruptcy!

You will meet with an experienced bankruptcy attorney at your free consultation.


 

Common Questions

Who can file a Chapter 13 bankruptcy?

The requirements to file a Chapter 13 bankruptcy is that it is an individual has a source of income or wages sufficient to support a Chapter 13 repayment plan. The source of income may be unemployment of some other source of fixed income. The person must be able to show they can afford to pay a Trustee payment and their ongoing monthly expenses.

What determines the amount of the Chapter 13 trustee payment?

The Chapter 13 trustee payment is determined by the income and the assets. An experienced Chapter 13 bankruptcy attorney with the Jakob-Barnes Law Firm, LLC can help determine the amount of your Trustee payment.

How long does a Chapter 13 bankruptcy last?

Chapter 13 bankruptcies last between three and five years. The Chapter 13 bankruptcy duration is governed by the type and amount of debt that you have to pay back. One of our experienced bankruptcy attorneys can advise you on what type of plan would best fit your situation.

How long is a Chapter 13 bankruptcy on my credit report?

A Chapter 13 bankruptcy is on your credit report for 7-10 years. As soon as the Chapter 13 bankruptcy is filed, creditors cannot take collection actions against you. Your credit will probably improve during the bankruptcy plan. As soon as you receive a discharge you can start rebuilding your credit.

What is a discharge?

A discharge is a court order that eliminates the Debtor’s obligation to pay the debts. A discharge will not be granted in a Chapter 7 bankruptcy until a Financial Management course is completed.

The information provided on our website is not, nor is it intended to be legal advice.  For legal advice or counsel you should consult directly with an attorney.  Contacting us via this website, email, fax, phone, or other electronic means of communication does not create a client-attorney relationship.  Please do not send to us any confidential information until a formal attorney-client relationship had been established.