A Phoenix Chapter 13 Bankruptcy is often the best solution for people facing foreclosure or those with certain tax problems and some student loans.<\/p>\n
Sometimes called a \u201cwage earners\u201d bankruptcy,\u00a0Phoenix Chapter 13 Bankruptcy<\/a>\u00a0is a way for debtors with regular income to reorganize their finances. In Phoenix Chapter 13 Bankruptcy, you\u2019ll work with your creditors and the Bankruptcy Trustee to create a payment plan lasting 3 to 5 years. At the end of the plan, your remaining\u00a0unsecured debts will be discharged. Most filers end up paying pennies on the dollar for their unsecured debts.<\/p>\n Phoenix Chapter 13 Bankruptcy addresses both\u00a0secured and unsecured debts. You may choose whether you want to continue making payments on your secured debts, such as\u00a0mortgage\u00a0and\u00a0auto loans, or surrender the property. The unpaid portion of your unsecured debts, such as\u00a0credit card\u00a0and medical bills, will be discharged at the end of your plan.<\/p>\n Your Chapter 13 plan payment depends on what you earn, not what you owe. The Trustee will take your income and subtract certain expenses according to local and national standards. Then they will subtract certain expenses such as a mortgage payments, child and spousal support payments, tax debts, and auto loan payments. You\u2019ll continue to make these required payments throughout your plan. After you\u2019ve subtracted your allowable monthly expenses and required payments, you\u2019re left with your \u201cdisposable income.\u201d That\u2019s what you\u2019ll have to contribute to your Chapter 13 plan each month. You\u2019ll make payments to the Bankruptcy Trustee and they will distribute them among your creditors.<\/p>\n Unlike Chapter 7 bankruptcy, Phoenix Chapter 13 Bankruptcy doesn\u2019t require you to surrender any property. You may, however, choose to surrender certain property if you are not able to make ongoing payments. At the end of your Chapter 13 plan, your personal liability for those debts will be discharged, meaning you can\u2019t be sued for the\u00a0deficiency if your creditor sells the property for less than the amount of your debt<\/a>.<\/p>\n In order to qualify for Phoenix Chapter 13 Bankruptcy, you must show that you have sufficient income to maintain your proposed payment plan. In addition, you must pay creditors at least as much through your Chapter 13 plan as you would if you\u00a0filed under\u00a0Chapter 7<\/a>. If you don\u2019t have enough income to support a plan, or if creditors won\u2019t receive sufficient payment, you\u2019ll be required to file under Chapter 7.<\/p>\n Certain types of debts are non-dischargeable in bankruptcy. You cannot discharge\u00a0child support\u00a0or spousal support debts, or personal injury debts incurred while driving under the influence. Barring extreme circumstances,\u00a0student loan debt\u00a0cannot be discharged in bankruptcy, either.<\/p>\n Bankruptcy comes with the powerful protection of the automatic stay. The\u00a0automatic stay protects you from any\u00a0collection actions, including\u00a0foreclosure<\/a>,\u00a0 The Chapter 13 process is complicated and difficult to navigate. Your payment plan must conform to specific rules and regulations and your creditors will fight every step of the way to get you to pay more. It is critical that you seek out the best Chapter 13 attorney you can find because not all attorneys understand the complexities of Chapter 13. Your attorney will make sure you get a fair plan that fits all of the requirements and leads to a discharge. We will help you decide how best to protect your most important assets and will stand up to creditors who threaten your rights. Under Chapter 13, you will pay most of your attorney\u2019s fees through your plan, so you\u2019ll have the benefit of an\u00a0experienced bankruptcy lawyer\u00a0without having to come up with an upfront payment.<\/p>\n If you\u2019re struggling with debts but you have a steady income, Phoenix Chapter 13 Bankruptcy may be a good option for you. You can read more about Phoenix Chapter 13 Bankruptcy on our\u00a0blog. We have years of experienced dealing with thousands of Phoenix Chapter 13 Bankruptcy cases. We will help you navigate the complexities of the Chapter 13 process and make sure that you get your discharge so you can move on with a clean financial slate.\u00a0Contact us<\/a>\u00a0online\u00a0to schedule a free initial consultation today.<\/p>\n","protected":false},"excerpt":{"rendered":" A Phoenix Chapter 13 Bankruptcy is often the best solution for people facing foreclosure or those with certain tax problems and some student loans. What is Chapter 13 Bankruptcy? Sometimes called a \u201cwage earners\u201d bankruptcy,\u00a0Phoenix Chapter 13 Bankruptcy\u00a0is a way for debtors with regular income to reorganize their finances. In Phoenix Chapter 13 Bankruptcy, you\u2019ll work with your creditors and the Bankruptcy Trustee to create a payment plan lasting 3 to 5 years. At the end of the plan, your […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":4,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"_links":{"self":[{"href":"https:\/\/phoenixfreshstartbankruptcy.com\/wp-json\/wp\/v2\/pages\/2069"}],"collection":[{"href":"https:\/\/phoenixfreshstartbankruptcy.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/phoenixfreshstartbankruptcy.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/phoenixfreshstartbankruptcy.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/phoenixfreshstartbankruptcy.com\/wp-json\/wp\/v2\/comments?post=2069"}],"version-history":[{"count":13,"href":"https:\/\/phoenixfreshstartbankruptcy.com\/wp-json\/wp\/v2\/pages\/2069\/revisions"}],"predecessor-version":[{"id":4829,"href":"https:\/\/phoenixfreshstartbankruptcy.com\/wp-json\/wp\/v2\/pages\/2069\/revisions\/4829"}],"wp:attachment":[{"href":"https:\/\/phoenixfreshstartbankruptcy.com\/wp-json\/wp\/v2\/media?parent=2069"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}How much will I have to pay each month?<\/h3>\n
Will I lose my home or my car?<\/h3>\n
Who can file for Phoenix Chapter 13 Bankruptcy?<\/h3>\n
What debts aren\u2019t discharged in Phoenix Chapter 13 Bankruptcy?<\/h3>\n
Will bankruptcy protect me from repossession, foreclosure, and collection suits?<\/h3>\n
How can a bankruptcy attorney help me?<\/h3>\n
Is Phoenix Chapter 13 Bankruptcy right for me?<\/h3>\n