Detroit Bankruptcy Lawyer
The Process of Filing for Chapter 13 Bankruptcy Protection
Filing for bankruptcy is never an easy decision, but once made, you need
to move forward and get the relief you deserve. Filing for Chapter 13
involves several steps, and the process itself is not fully complete for
3 – 5 years. The first step is to speak with a Detroit bankruptcy
lawyer that you can trust to have your best interests as the guiding principle
in every action taken. Attorney Marshall D. Schultz has served as counsel
in bankruptcy and debt relief for over 3 decades, and his practice is
focused strictly on bankruptcy and debt relief. He has assisted over 10,000
people to solve serious financial problems through filing for
Chapter 13 bankruptcy protection. Are you planning to file Chapter 13 in Detroit?
Call the firm so you have legal counsel that will guide you correctly,
and help you get the greatest benefit out of filing.
STEP ONE. Have your case reviewed by a professional so you know you are making
the right decision. There are some people that could resolve a dangerous
financial problem through another method, and at the firm, we can quickly
review your case and advise you correctly.
STEP TWO. Determine if you are eligible to file Chapter 13. In order to qualify,
you must have a regular source of income, and some amount left over every
month, your "disposable income." The means test is the process
under which it is determined if you qualify to file Chapter 13.
STEP THREE. The requirements to file Chapter 13 include credit counseling from an
approved service, and that the means test has been completed, and is absolutely
accurate. The entire process should be managed by a legal professional
so that nothing goes wrong – such as a petition being denied. The
petition will be filed in the district where you currently reside. There
is extensive supporting documentation that must be submitted with the
petition, including a schedule of your assets/liabilities, your current
income, your current (and past due) bills, contracts you have signed and
other obligations, such as lease documents. It is important that all of
the details in your submission are complete and accurate, as you could
add time to the process, have your bankruptcy petition denied, or even
face legal trouble if the court believes you have been dishonest in an
attempt to avoid paying your debts. Always get help from an attorney who
understands bankruptcy law.
STEP FOUR. Along with your petition, you will be required to pay fees for court
filings. Once the petition has been filed, your creditors will be contacted
and told to halt any collection actions, including phone calls, lawsuits,
wage garnishment and so on.
STEP FIVE. A repayment plan must be submitted, either with your petition, or within
15 days of your initial filing. With the help of a professional, this
repayment plan should be reasonable and affordable for you. The court
is fairly strict with regard to how much of your money should be going
to repaying your debts, so consulting with our firm can be a critical
point on how you will live your life over the next several years.
STEP SIX. You will be required to attend a "meeting of creditors." This
meeting is part of the legal process of filing for Chapter 13. The meeting
takes place usually within a few weeks or months of filing. You absolutely
must appear at this meeting, and when we work with you, you can expect
us to be there with you and helping you with answering any questions from
STEP SEVEN. Appear at the "confirmation hearing." This hearing is when
the judge will make the decision about whether the repayment plan you
submitted is acceptable, and is meeting the requirements of the federal
Bankruptcy Code. Your creditors are informed of the meeting and can attend,
and object if your repayment plan is confirmed, which is not particularly
common. In most cases, the bankruptcy will then move forward.
STEP EIGHT. Within a few weeks of your confirmation hearing, you are required to
begin making the payments outlined in your repayment plan.
Contact us at once for assistance in filing Chapter 13 bankruptcy. Our Detroit Chapter
13 attorneys have 30 years of experience in crafting repayment plans,
working with the court, and protecting the rights and interests of clients
throughout the Detroit metro area.