CHAPTER 13 BANKRUPTCY
(Usual fee to file individual case: $540 +$310 filing fee)
Why file chapter 13?
- to stop foreclosures
- to get back repossessed vehicles
- to catch up on mortgage or car payments
- to inexpensively remove 2nd mortgages(when available)
- to stop creditors if you have filed chapter 7 in past 8 years
- to repay taxes or fines over a 5 year period
- to help with your debts when you don't qualify for chapter 7
- to stave off or push back unreasonable student loan payments
- to keep property that would be taken in a chapter 7
- to protect a co-debtor on a debt with you and you want to protect person
- you want to repay your debts without interest while protected by the court
CHAPTER 7 BANKRUPTCY
(Usual fee for indiv. $525+ $335 filing fee)
Reasons to file chapter 7?
- you are only making the minimum payments to your credit card companies
- collectors are calling you at home, at work, or are calling your family members
- you live in fear of the phone ringing
- you are using your credit cards to pay for living expenses
- you wonder if you should consolidate your debts
- you don't own a lot of property or have equity in cars or houses
- you want to buy a house but can't due to your credit
- YOU NEED A FRESH START!