\u2014typically lasting three years\u2014that allows you to set aside sufficient funds each month (if you can) to repay your creditors.\u00a0<\/span><\/p>\nThis can make it more manageable to pay back your debts since the payment is spread out over such a long period, and it can allow you some breathing room if other expenses have eaten up your monthly income. That’s why it may be worth considering whether a Chapter 13 bankruptcy might be right for you.<\/span><\/p>\nFiling a Chapter 13 Bankruptcy: Basic Steps<\/b><\/h2>\n\n- Take the required credit counseling course.<\/b><\/li>\n<\/ul>\n
Before filing for Chapter 13, you have about 180 days to take a credit counseling course from an agency approved by the U.S. Trustee Program of the Department of Justice. The session helps determine if you make enough money to pay your debts.<\/span><\/p>\nMost providers charge between $25 to $35 for the course. If you can’t afford to pay, you can get counseling for free or at a reduced rate. But people who file under Chapter 13 seldom qualify for the discount.<\/span>
\n<\/b><\/p>\n\n- Submit your Chapter 13 bankruptcy paperwork.<\/b><\/li>\n<\/ul>\n
Your bankruptcy case starts when you file. Shortly after, the court clerk will send a letter to you, the trustee assigned to your case, and your creditors informing them of the automatic stay that prevents creditors from taking action in regards to you. The notice will have the deadlines for creditors and the date and time of the 341 meeting of creditors, which is the hearing to which everyone who files for bankruptcy must go.<\/span><\/p>\nYou will have to pay a fee when you file for bankruptcy and send in your credit counseling certificate. The Federal Court Finder can be used to find the bankruptcy court in your area.<\/span>
\n<\/b><\/p>\n\n- Join the 341 meeting of creditors<\/b><\/li>\n<\/ul>\n
You must give the trustee “521 documents” five days before the hearing. These documents could include tax returns, pay stubs, bank statements, and possibly more. At the hearing, the trustee will check your ID and ask you questions about why you filed for bankruptcy. Creditors can also come, but they don’t usually.<\/span>
\n<\/b><\/p>\n\n- Start making payments on your Chapter 13 plan.<\/b><\/li>\n<\/ul>\n
Even though the court hasn’t approved or “confirmed” your proposed Chapter 13 plan, your monthly Chapter 13 payments will start the month after you file. The timing helps ensure that your Chapter 13 bankruptcy case will end on time, usually in five years.<\/span><\/p>\nIf the bankruptcy court doesn’t agree with your plan, your payments will be returned by the trustee. Don’t count on getting your car payments back, though. Instead, your car lender will credit your account.<\/span>
\n<\/b><\/p>\n\n- Finish the steps to confirm Chapter 13<\/b><\/li>\n<\/ul>\n
Your creditors and the trustee in your bankruptcy case will be able to object to your presented Chapter 13 repayment plan. If that happens, your lawyer will probably try to make modifications that make everyone happy.<\/span><\/p>\nBefore approving your plan, the judge must be able to answer “yes” to the following questions after taking into account any arguments made at the plan confirmation hearing:<\/span><\/p>\n\n- Does the plan make sense? For example, does the person filing have enough money to make the monthly payment?<\/span><\/li>\n
- Did the debtor come up with the plan? Or is the filer trying to control the bankruptcy process?<\/span><\/li>\n
- Does the plan follow the bankruptcy rules? Does the filer pay creditors the minimum amounts that the law requires?<\/span><\/li>\n<\/ul>\n
Before dismissing a Chapter 13 case, most judges give the filer more than one chance to fix a bad plan.<\/span><\/p>\n\n- Completion of the Chapter 13 Plan Confirmation<\/b><\/li>\n<\/ul>\n
Before the court orders a debt discharge that wipes out the rest of your qualifying debts, you should make all of your payments, be up-to-date on child support and alimony, and finish a second course called “debtor’s education.”<\/span><\/p>\nMost people are free of debt after a bankruptcy discharge, except for their mortgages and student loans.\u00a0<\/span><\/p>\nContact our Arizona Bankruptcy Attorney Now!<\/h2>\n
Chapter 13 is a bankruptcy option that gives hope to those who have lost their way financially. It offers an opportunity for you to reform your financial situation by reducing debts under your current circumstances. It also helps you repair bad credit and can help eliminate debt completely. The steps outlined above on how to file Chapter 13 Bankruptcy are not applicable in every case but should be taken into consideration by anyone inquiring about this particular bankruptcy option.<\/span><\/p>\nPhoenix Fresh Start is here to provide answers and solutions during this trying time and looks forward to assisting you and helping you succeed in any way we can. Our bankruptcy attorney will help you understand your options for making sound financial decisions. If you are serious about filing Chapter 7 or Chapter 13, contact our Arizona Bankruptcy Lawyer now for a free consultation! We want to help you rebuild your life!<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"Phoenix Bankruptcy Attorney Can Help Have you ever wondered how to file for chapter 13 bankruptcy? You’re not alone. Many people run into trouble regarding personal finance when trying to figure out how to file for chapter 13 bankruptcy. Luckily, there’s a way to learn more about filing for chapter 13 bankruptcy and staying afloat financially. Our team at Phoenix Fresh Start are seasoned bankruptcy attorneys who know how to file for chapter 13 bankruptcy. We’ll explain the steps involved […]<\/p>\n","protected":false},"author":1,"featured_media":4417,"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\/4414"}],"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=4414"}],"version-history":[{"count":3,"href":"https:\/\/phoenixfreshstartbankruptcy.com\/wp-json\/wp\/v2\/pages\/4414\/revisions"}],"predecessor-version":[{"id":4828,"href":"https:\/\/phoenixfreshstartbankruptcy.com\/wp-json\/wp\/v2\/pages\/4414\/revisions\/4828"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/phoenixfreshstartbankruptcy.com\/wp-json\/wp\/v2\/media\/4417"}],"wp:attachment":[{"href":"https:\/\/phoenixfreshstartbankruptcy.com\/wp-json\/wp\/v2\/media?parent=4414"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}