How Do I File Chapter 13 Bankruptcy?

Filing a Chapter 13 Bankruptcy

            Chapter 13 Bankruptcy requires a careful analysis of your income, expenses and types of debt.  In almost every case, this is best performed by an experienced attorney.

            A typical Chapter 13 case is filed with the clerk with about 50 pages of schedules and details disclosing all of your assets and all of your liabilities.  Many clients desire to keep certain things “out of the bankruptcy.”  This is not possible.  Everything you own and everything you owe must be disclosed and included.

            The papers culminate with the Chapter 13 Plan. The Plan tells the trustee and all creditors exactly how you propose to pay back the debts over the next 3 to 5 years using a steady, consistent monthly payment to the trustee.  In most cases, a client will pay back all of his secured car debt and some smaller percentage of his unsecured debt over that time.

            The papers are filed with the Clerk at the Bankruptcy Court, along with a filing fee of $281.  A filer must also complete an online credit counseling class before he or she files the petition.

            At The Slomka Law Firm, we offer a free initial consultation to determine if filing is right for you and what other options might be available.  We can rush file, when needed, but prefer to get to know our clients over a few visits so that we can file proper and accurate papers.