Having financial struggles is just one of those things that a lot of people dread, if you find yourself in the position where you have to file for Chapter 13 bankruptcy, then it is important to know the Chapter 13 bankruptcy rules. Chapter 13 bankruptcy rules is simply defined that as long as a person's debt is lower than 336,900 dollars for unsecured debt and lower than 1,010,650 dollars for secured loans, he or she is qualified to file for Chapter 13 bankruptcy.
There are loads of financial documents that needs to be filed with the court along with the associated fees. You can file for Chapter 13 bankruptcy all by yourself, but if you want the process to be fast and well done, then you will need to hire the services of a bankruptcy attorney and Juras Law Firm, PLC is just the bankruptcy lawyers that you need when filing for Chapter 13 bankruptcy. In order to prepare for filing Chapter 13 bankruptcy, you will need to have a list of creditors and their claims, your income sources and the regularity of your income in all the property listed and also a list of everything that has a monthly expense. You need to understand that these are all considered because you have to satisfy all your debts with a period of three years.
Not everyone finds the choice of filing for bankruptcy very appealing, one of the main reasons why a some people decide to file for Chapter 13 bankruptcy is because they want to save their home. You need to know that if a foreclosure has already been completed before you file for bankruptcy, please know that there is every possibility of losing your home. Under the Chapter 13 bankruptcy rules, it is very important that one's home mortgage must be brought up to date within the 3 year period. If there isn't adequate proof to support a debtor's claim that he or she can catch up with the payments, then according to the Chapter 13 bankruptcy rules they may not be eligible to proceed with the filing of Chapter 13 bankruptcy.
Agreed, filing for bankruptcy might not be the right thing for every person, with the help of the experts at Juras Law Firm, you will be able to know whether or not, filing for bankruptcy is a good alternative for you. Under the Chapter 13 bankruptcy rules, a court appointed trustee is responsible for overseeing financial matters. The debtor will not be allowed to have access to new credit for at least 2 years.
Filing for bankruptcy can actually help you in a variety of way including: " Put a stop on home foreclosure " Reduce or eliminate debts " Stop pesky calls from debt collectors " Stop lawsuits - although with a couple of exceptions " Stop garnishments " Stop the repo man from getting his claws on your vehicle. Juras Law Firm's experiences include every area of bankruptcy law, including credit and taxes. This firm has represented trustee, debtors and other parties in legal proceeding under the United States Bankruptcy Code.
