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There are many benefits associated with filing a Chapter 13 bankruptcy. The types of benefits that will result will depend on the facts of the case. Below is a few of the benefits available with filing a Chapter 13 bankruptcy.
- Pay Mortgage Arrears- You can set up a 3 to 5 year plan to pay mortgage arrears that are past due on your home. If you are in the process of being foreclosed and you are behind on your mortgage, you can set up a repayment plan for your mortgage arrears.
- Strip Second Mortgage- If your home value is below what you owe on your first mortgage and you have a second mortgage, you may be able to remove your second mortgage in a Chapter 13 bankruptcy.
- Pay Back Taxes- If you owe taxes to the federal and state government, you can set up a repayment plan through a Chapter 13 bankruptcy.
These are just a few of the benefits that a Chapter 13 bankruptcy can provide.
Wiki User
∙ 10y ago
Wiki User
∙ 10y agoChapter 13 bankruptcy can help a person by saving them from legal actions from debt collectors. When a person files bankruptcy, all debt collections and lawsuits are stopped so a person can keep their assets like homes or cars.
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What can a chapter 13 attorney do for the clients?
A chapter thirteen attorney will not only help you make your bankruptcy legitimate, they will also help you figure out some of your financial problems to make it easier for you to pay off some of your debts.
How much would your payments be on chapter 13 bankruptcy on 100 000?
A chapter 13 bankruptcy on 100,000 dollars would cost around 500 dollars a month. This estimated on how much stuff a person has.
Can a landlord evict a business tenant while there in chapter 13 bankruptcy?
A business cannot file a chapter 13. But a person can be evicted if he does not pay rent.
How do you know when your chapter 13 bankruptcy is over?
You will receive a letter that your bankruptcy is discharged. You can also call the bankruptcy court or the trustee and find out if it is final.
How soon can you file bankruptcy after a voluntary dismissal of a chapter 13?
is it safe to file for voluntary dismissal of chapter 13 bankruptcy
If you filed chapter 13 bankruptcy and it was discharged can you file chapter 7 bankruptcy now?
Yes.
Where can you get help in Chicago if you are two months behind on a Chapter 13 bankruptcy payment?
You can find help in Chicago with Chapter 13 bankruptcy at The Law Offices of Melvin J. Kaplan and Associates, P.C.Mr. Kaplan is the author of Out of Debt Through Chapter 13: and How to Get Your Creditors Off Your Back Without Losing Your Shirt.You can apply directly for help here:http://www.financialrelief.com/services.php
Can you get your car back after a repossession if you file chapter 13 bankruptcy?
In GA Can you get your car back after a repossession if you file chapter 13 bankruptcy
What happens if you wreck your car after filing for Chapter 13 bankruptcy?
If you wreck your car after filing for Chapter 13 bankruptcy you can file it on your insurance. You can then replace your car based on the bankruptcy order.
Chapter 13 bankruptcy be dissimisal?
You can get a Chapter 13 bankruptcy dismissal by asking your lawyer to ask the trustee for a dismissal. If you are having trouble making the payments, you can ask for you bankruptcy to be modified.
Can an individual establish a corporation while on chapter thirteen bankruptcy?
Yes, a person can start a business or corporation while in the midst of a Chapter 13 bankruptcy case. If you are looking for start-up funding, you will have to ask the bankruptcy court for permission.
If you voluntarily have a chapter 13 bankruptcy dismissed will your creditors be notified of the dismissal?
Yes. If you voluntarily have a chapter 13 bankruptcy dismissed, your creditors will be notified of the dismissal.
