Tag Archives: chapter 13

Actions to Avoid Prior to Filing Bankruptcy

Whether you plan to file for bankruptcy under Chapter 7 or Chapter 13, there are definite actions you need to avoid in order to be sure your debts are discharged or that the court will approve your reorganization plan. These are suggestions and not intended to be a complete list. Your bankruptcy attorney will provide you more detailed information. Avoid transfers of assets that may appear to be preferential. If you repay loans to family members within one year prior to filing your bankruptcy petition, or completely pay some creditors in the 90 days preceding your filing, the trustee has the option of filing an adversary proceeding and asking for the funds to be returned to your estate. The funds will then be used by the trustee and distributed among all your creditors. Quit using your credit cards 70 to 90 days before filing. If you max out your charge…
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Chapter 13 Bankruptcy: What is a Reorganization Plan?

Chapter 13 bankruptcy offers debt relief to those who are deeply in debt and behind in their payments on their mortgage but want to keep their home. Chapter 13 is called a reorganization. Additionally, some individuals or families do not qualify for a Chapter 7 bankruptcy, so must look at Chapter 13 as an additional bankruptcy option for them. If you are in this situation, you can file a Chapter 13 petition with the bankruptcy court and stop all collection action. This gives you the time you need to get your financial situation in order with Chapter 13 plans lasting up to 5 years. There are several requirements you must meet. First, you must receive credit counseling from an organization approved by the court before you file your petition. Your tax returns for the previous four years must have been filed. Most importantly, you must show the court you have…
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How Much Money Do I Need to File Bankruptcy?

How much money do I need to file Chapter 7 bankruptcy? For a Chapter7 bankruptcy: you must pay all of your attorney fees and court costs prior to the Chapter 7 bankruptcy being filed. However, you may retain our firm for $200.00 and we will get started on your bankruptcy petition. Once all of the fees have been paid, we will file your case and the bankruptcy case will commence! How much money do I need to file a Chapter 13 bankruptcy? For a Chapter 13 bankruptcy: we will file your case for only $295.00 and the required bankruptcy court fees ($310 filing fee, $55.00 credit counseling fee, $49.00 Post Financial Management Course, $38.00 per person Credit Report Fee for a total of $452.00). The remaining fees are paid through the Chapter 13 Plan. For our firm to file your case for the $295.00 we require you to use a…
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