Under the current Ch 13 laws it is possible for some clients to file a Ch 13 bankruptcy without paying any upfront fees or costs. A Ch 13 bankruptcy is a type of plan that can set up reasonable payments for a 3-5 year period to help individuals and couples catch up on car loans, back house payments and help with unsecured credit card debt. In a typical Ch 13 case a client may be behind in car payments and have unsecured loans and credit cards as well. In this situation we can set up a payment plan to pay for the car loan over a five-year period and in most cases alleviate the unsecured debt without having to pay any money to those unsecured creditors. In some cases, you may be able to even greatly reduce the amount you pay back on your car loan. If you do not have the up-front filing fees of $310.00 to start the Ch 13 bankruptcy it is possible in certain situations to file a Ch 13 case for no money down. This allows you to set up a payment plan to pay the filing fee in three installments while at the same time obtaining the protection you need from the bankruptcy laws. In order to qualify for the no money down filing you have to meet certain criteria in our office.
- You cannot have been dismissed from a previous Chapter 13 plan within the past year.
- You cannot have more than $1,000 in your checking account at the time of filing.
- There are no pending foreclosure sales within the next 60 days.
- You have a source of income that will allow a payroll deduction to take place for the Chapter 13 plan payment.
If you meet these criteria then you can qualify to file the CH 13 case without paying any upfront fees. The first payments in your Ch 13 plan will be due 30 days from the date you file your case and get the protection you need from creditors. We always offer free consultations and can discuss your options over the phone. Currently we are able to handle most of the bankruptcy process virtually and avoid you having to come into our office at all. We will work around your schedule and make the process as easy as possible for you. If you are interested in learning more about bankruptcy and the protection it offers please give our office a call at 919-382-3065 or contact us through our website.