Learn from these Chapter 13 bankruptcy questions in South Jersey. Then call attorney Andrew Carroll for a free legal consultation and case review.
What’s important to know about Chapter 13 bankruptcy?
In speaking to clients about Chapter 7 or Chapter 13 bankruptcy, they want to know how the Chapter 13 bankruptcy helps them. A Chapter 13 bankruptcy is generally for individuals who have debts that are not dischargeable, such as taxes, student loans, alimony or child support. It’s also for individuals who are having trouble managing their debt, but whose income is too high to file under a Chapter 7 bankruptcy. A Chapter 13 also helps to protect your home from foreclosure or from a share of sale. If you have any questions about whether a Chapter 7 or a Chapter 13 is right for you, please feel free to contact our office.
Why should I file a Chapter 13 bankruptcy as opposed to a chapter 7 bankruptcy?
A common question we have from our South Jersey clients is, “Why should I choose Chapter 7 over a Chapter 13?” There are various reasons for that, one of them being maybe you’re income is too high in the Chapter 7 Means Test. Also, if you have unsecured debts that are not dischargeable, such as alimony, taxes or child support, or student loans, you would want to consider a Chapter 13. If you have any questions about whether a Chapter 7 or a Chapter 13 bankruptcy is right for you, please contact our office.
How do I choose the right Chapter 13 bankruptcy attorney?
When filing for Chapter 13 bankruptcy in South Jersey, it’s important to make sure that you have the right attorney. You need to look for an attorney who is experienced in Chapter 13 as well as Chapter 7 bankruptcy, has a background in mortgage remodifications and has experience in foreclosures. If you have any questions about whether you should file for a Chapter 7 or a Chapter 13, please contact our office.
How long does it take to complete a Chapter 13 bankruptcy?
I was talking to a Chapter 13 client the other day and they wanted to know right up front, “How long is this Chapter 13 bankruptcy plan going to take?” The answer is an emergency petition can be filed in about one to two hours, but under normal circumstances, it takes one to two weeks to complete the actual filing, and the plan will last three to five years. If you have any more questions about how this works, please contact our office.
How much does it cost to file for Chapter 13 bankruptcy?
Here in our South Jersey office, when clients come in, cost is often a major concern on their minds. They’re already having trouble paying their debts and they want to know, “How much is it going to cost me to file for Chapter 13 bankruptcy?” Generally, there’s a small upfront fee of $750 to $1,000, but the remaining balance can be wrapped into the Chapter 13 trustee repayment plan. If you have any questions about Chapter 13 costs and how it’s wrapped into your plan, or whether a Chapter 13 bankruptcy is right for you, please call our office.
Are you or a loved one unable to pay your debts and have more Chapter 13 bankruptcy questions? Contact experienced South Jersey Chapter 13 bankruptcy attorney Andrew Carroll of All Jersey Bankruptcy today for a free consultation and case evaluation.
We are dedicated to giving you the answers that you need in order to make an informed decision about whether bankruptcy is the best decision option for you.
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