The Top 13 Reasons to File Chapter 13

1-Your Home:
Mortgage Payments. Chapter 13 can give you up to five years to pay back mortgage arrears. Most of the time, you can pay back your mortgage without any interest or penalties.

Foreclosure. If your house is in foreclosure, you can usually stop the foreclosure.

Sheriff’s Sale. If your house is listed for a Sheriff’s Sale, you can usually stop that Sheriff’s Sale and get up to five years to pay back your mortgage arrears. In certain limited situations, you can still save your home even after a Sheriff’s sale has taken place.

Landlord. If your landlord is taking you to court to try to evict you because you are behind on your rent, you can usually file a Chapter 13 before your court hearing is held.

Read more: Chapter 13 Top 13 Benefits

You Are Entitled To A Fresh Start

The purpose of the bankruptcy discharge is to give you a fresh start in life. The Bankruptcy Code gives you that in the legal sense, by relieving you of the obligation to pay your debts, so that you can start over.

When Congress enacted the Bankruptcy Code, it believed that there should be not stigma or shame involved in needing to seek relief in bankruptcy. However, many debtors still feel guilty or ashamed that they have needed such relief.

Just as Congress has forgiven your debts, so you should also forgive yourself for requesting such relief if you feel badly about it. Many people need such relief at some point in their lives, for a great variety of reasons. Whatever your reasons may have been, you will not do yourself or anyone else any good by punishing yourself about it. So, learn what you can from this experience, wipe the slate clean in all respects, and good luck on your fresh start.
Please read the following Notice from the Bankruptcy Court:

Read more: Chapter 13 Start Fresh and Honorably Discharge Your Debts

Your Chapter 13
Meeting With the Trustee, Isabel Balboa

The Chapter13 meeting is usually pretty informal and it will take about 5 or 10 minutes in most cases. Your attorney will be present at the meeting with you. Please make sure to review the Checklist on page 14, and please make sure to bring all of the required documents with you.

Your Chapter 13 Meeting with the Trustee, Isabel Balboa
Just Takes 5-10 Minutes!

Read more: Prepare to Meet With The Chapter 13 Trustee

Confirmation Hearing

What happens AT the Confirmation Hearing:

You will usually NOT have to come to the Confirmation Hearing. This hearing is scheduled about 2 months after your petition filing date.

Read more: Chapter 13 Final Step; Confirmation Hearing

Cram Downs

Cram Downs on Cars:

If you are presently making car payments, we may be able to save you a lot of money by filing a Chapter 13. For example, if you owe $10,000 on your car and the retail value is $7000, you can often reduce your car loan debt to $7,000 and substantially reduce your car payments.  If your car has damage, or needs repairs, or has excess mileage, or other problems, this could reduce the value below the $7,000 book value, and maybe the car is only worth $5,000. Therefore, in this example, you only have to pay $5,000 as the cram down value of the vehicle. The less your car is worth, the more money you will save.

Read more: Chapter 13 Cram Down Your Car, Mortgage and Property

Mortgage Arrears and Chapter 13 

In a Chapter 13, you can normally cure mortgage arrears that you owe on your home.  It is important that you fully understand your obligations when you are paying mortgage arrears through a Chapter 13 plan. In this section we will advise you exactly what you have to do when you owe arrears on your mortgage, so that you can be sure your Chapter 13 proceeds forward in a successful fashion.

If you are behind in your mortgage payments, we can usually help you save your property.  Chapter 13 gives you a very reasonable and realistic opportunity to save your property.  While you are in Chapter 13 you are normally protected from your creditors coming after you and foreclosing against your property.  You also have certain responsibilities. You must do certain things as required by the bankruptcy law if you want your case to be successful. This way you will be protected from foreclosure.

Read more: Chapter 13 Paying Mortgage Arrears

 BANKRUPTCY FEES - CHAPTER 13

     The court filing fee for a Chapter 13 is $274.  Before we can file your bankruptcy petition, we need $396 towards our fee, plus the $274 court filing fee, for a total of $670. The Bankruptcy Court permits payment of the additional attorney fee balance through your monthly plan payments to the Court.  Therefore, when we calculate the amount you need to pay each month to the Court on the Chapter 13 plan, this amount will include any attorney fee balance which, will be paid to us by the Court.

Read more: Chapter 13 Fee's