You and your Glendale bankruptcy lawyer may determine that Chapter 13 bankruptcy is the right solution to your debt crisis when you take a means test. Through a Chapter 13 bankruptcy, you will repay some or all of your debt over time. Manageable payments are the key to successful completion of a Chapter 13 bankruptcy.
Then proceed through the steps of a Chapter 13 bankruptcy as follows:
- Get credit counseling through an approved agency. Many people complete this step by phone or online.
- Work out a plan with your bankruptcy lawyer to pay for your Chapter 13 bankruptcy, including attorney's fees and court filing fees.
- With your attorney, devise a detailed repayment plan that specifies how much you will repay for your debts. Your lawyer will walk you through this important step in detail.
- Make the monthly payments for three to five years. It is likely that you will repay only a portion of your debt, and interest rates will no longer be an issue, because your monthly obligation will be fixed.
- If you are unable to make payments, the court may let you discharge your debts on the basis of hardship. This might happen if you or your spouse suffers a catastrophic injury or if you lose your job and there are no suitable replacement jobs available to you. Stay in contact with your lawyer through the three to five years and proceed with his guidance.
- At the end of the repayment period, all remaining debts will be discharged or wiped out. You will need to confirm that you are up to date on child support or alimony payments.
- You will need to show that you completed credit counseling.
At all times, consult with your Chapter 13 bankruptcy lawyer. Look forward to debt relief and a fresh start.
Contact a Chapter 13 Bankruptcy Lawyer in Glendale, Arizona
To learn more about how The Roll Law Office, PLLC, can help you get a financial fresh start, please contact us today or call 602-652-2403 to set up a free consultation. We look forward to discussing with you how Chapter 7, Chapter 13 or Chapter 11 bankruptcy or debt negotiation can help you put an end to your worries.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
