Filing for Chapter 13 bankruptcy is a serious matter that must be considered very carefully. When you are going to file, you need to take a close look at the money. One of the steps of filing for this type of bankruptcy is to speak with a credit counselor to determine if there are any options for you besides bankruptcy. We can help you learn more about your responsibilities when it is time for you to file.
Once you file the bankruptcy, you will be set up on a repayment plan. This must be approved by the court and requires that you make payments to the trustee. These payments don’t allow you much free money out of your paychecks, so you will need to set a very specific budget to ensure that your necessary expenses are paid.
We realize that you are probably suffering from information overload due to the vast amount of things that pertain to these cases. We are here to help you determine what you need to do each step of the way. This can be a difficult to work through, but it isn’t impossible.
During the bankruptcy process, you will also go through an education course that can help you learn to live without credit. As the time you have to pay the court comes to a close, you will need to look into creating a plan that will help you rebuild your credit. You can’t start the process until the bankruptcy is discharged unless you can get the approval of the court.