When Chapter 13 Bankruptcy Is Used Chapter 13 is a reorganization under the United States Bankruptcy Code. Chapter 13 allows you to repay debt over a three to five-year period. It’s most commonly used to save a home that’s been in foreclosure or to save a vehicle that’s been repossessed or to stop collection activity […]
Category Archives: Chapter 13 Bankruptcy
Filing chapter 13 bankruptcy is not a one-shot deal. You do have the ability to file another chapter 13 bankruptcy case should your first case fail states Chapter 13 bankruptcy attorney David Siegel. No one sets out to fail in bankruptcy. Debtor’s and their counsel wish to file a perfect chapter 13 petition and to […]
If you are a cosigner on the debt, then you and the other debtor are technically joint and severally liable for that debt. One common form of debt that’s jointly owned is that for a vehicle. If somebody else filed a Chapter 13 bankruptcy on it vehicle that you cosign, you may be protected under […]
In a Chapter 13 bankruptcy case, upon filing, there is a creation of the Automatic Stay which protects the debtor against certain actions by creditors. If the debtor is filing a bankruptcy case where a prior case was dismissed within the last year, then the Automatic Stay unless extended, will expire after 30 days. This […]
If you are filing a Chapter 13 bankruptcy case in Chicago and in the prior year you have had two or more cases dismissed, then you are going to want to impose the Automatic Stay in your current filing. By the fact that you have had two or more bankruptcy cases dismissed within a calendar […]
The filing of a Chapter 13 bankruptcy case is a process that takes discipline, attention to detail and a strong effort to succeed. Chapter 13 involves repaying either all or a portion of your debt over a three to five-year period. We are talking about a long repayment plan; 36 to 60 months of consistent […]
Can I keep my car in Chapter 13 Bankruptcy? Yes, you can keep your car through Chapter 13. If your car is paid in full, it will just increase the amount that you have to pay back to your creditors based on the equity in your car. If you have a car that’s worth $10,000, […]
What is a Chapter 13 bankruptcy? A Chapter 13 bankruptcy is a reorganization of your debt or a repayment plan through the federal government of anywhere from 3 to 5 years. Chapter 13 bankruptcy is a very complicated process; much more complicated than Chapter 7 so an attorney is definitely something you should acquire before […]
The honest answer is it depends. You will certainly have the ability to keep your home provided that you make timely payments. Allow me to explain. One of the main benefits of filing Chapter 13 or the main reason why people file Chapter 13 is in order to save their real estate and other property. […]
Chapter 13 bankruptcy can help you in a ton of ways if you are struggling financially. The first way that Chapter 13 can help you is to save your house. If you have fallen behind on your mortgage payments because of the loss of job or illness or just unexpected expenses, you can put what […]