Don’t let the stigma of declaring bankruptcy keep you mired in debt, fearing repossession or foreclosure. Take the steps you need to get out of debt. At Allen Turner Law, we are here to guide you through the process. Call us now at 844-781-PAIN to schedule a free consultation to determine your eligibility to file for bankruptcy relief.
Chapter 7 Bankruptcy
CHAPTER 7 BANKRUPTCY may eliminate most kinds of unsecured debt. Some examples of unsecured debts Chapter 7 may eliminate are credit cards; medical bills; most personal loans; deficiencies on repossessed vehicles and foreclosures. Most debtors under Chapter 7 are able to exempt their property, allowing them to keep all of their property. As long as your car and mortgage payments are current, you can reaffirm the debt and retain the property.
Chapter 13 Bankruptcy
CHAPTER 13 BANKRUPTCY is a (mostly) interest-free debt repayment plan through which you consolidate your debts and make a payment on your debt over a 3 to 5 year period to your court appointed trustee. While in a Chapter 13 debt repayment plan, the creditors cannot collect from you, and the creditors are required by a Federal Court order to adhere to the terms of the plan. One very important thing to remember about Chapter 13 bankruptcy is that you must be working or have a consistent source of income for your repayment plan to be confirmed by the court. Debts that are generally consolidated in a Chapter 13 bankruptcy are mortgage arrears, balances on vehicle loans, student loans, credit card debts and other unsecured debts. All outstanding debts are included in the Chapter 13 bankruptcy consolidation, unless otherwise determined by the attorney.
What You Need to Know About Filing Bankruptcy
If you intend to file for relief, stop using your credit cards. Any charges made in the 180 days (6 months) prior to filing may be disallowed and considered fraudulent. In order to file, you will need the following documents to provide to our attorney:·
- Paystubs for the last six (6) months·
- Tax returns for the last two (2) years·
- Credit Report (speak to our attorney about an easy and accurate solution for obtaining this)
A requirement for filing bankruptcy is the completion of a pre-filing credit counseling course. Furthermore, during your case, you must complete a financial management course prior to receiving discharge relief. We recommend Access Counseling (www.accessbk.org) or call them at (888) 234-7209. There will be a fee that must be paid directly to the provider.
Once your case is filed, you will be required to attend a meeting before your court-appointed Trustee. This meeting is mandatory. You must take your Social Security Card and Driver’s License to this meeting.
Call Allen Turner Law today to schedule a Free Consultation 844-781-3328.
Need more information? Check out or Bankruptcy Website.