 If you are in financial trouble,
we can talk about the option of either Chapter 7 or Chapter 13
Bankruptcy.You need to know that child support obligations are not dischargeable in bankruptcy. Student loans, taxes and divorce property settlements have special rules but generally are not dischargeable. Credit card charges or cash advances of $600.00 or more made within 60 days likely are to be found not dischargeable. There are so many nuances to bankruptcy law, that I would prefer to talk over your situation with you. Chapter 13 is the "wage earner" plan. Generally speaking, the plan involves a monthly payment to the Trustee for a period of up to 5 years. If you owe income taxes, the plan must provide for payment in full over the 5 year period. Chapter 13 is best employed for people who want to pay their debts and/or are behind on installment payments. The filing fee for a Chapter 7 is $299.00 and for a Chapter 13 is $274.00. My fees for a Chapter 7 generally are based on the number and kind of debts you have, not the amount. My fee for a Chapter 13 is higher than a Chapter 7 because of the greater amount of work. Generally, however, I will take a down payment on Chapter 13 cases and recover the balance of my fees from your plan payments. |
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