How do you declare a Chapter 13 bankruptcy?

May I suggest that you get a bankruptcy lawyer? The forms are found on the bankruptcy court’s website but if you fill them out incorrectly or don’t apply for the exemptions right on Schedule C, you could lose property or wind up in trouble. It's more than possible to declare a Chapter 13 bankruptcy so long as you qualify. It can be a good option for those who have assets they want to keep and are looking for an affordable way to get out of debt. Chapter 13 bankruptcy allows you to take a fresh financial start under the supervision of a court-appointed trustee. During this period, your creditors must accept payment plans that you work out with your trustee. You will most likely have to make monthly payments for three to five years, but the payments are much lower than those for Chapter 7 bankruptcy. When your debts are discharged, you'll have the financial freedom to start over without the pressure of overwhelming debt hanging over your head.

A Chapter 13 bankruptcy can be declared in some states only after a person meets certain requirements. One of these is that the individual must have been a resident of the state for at least 60 days. A person who has recently moved to a state may not be eligible to declare Chapter 13 bankruptcy in that state. Another requirement is that the person filing for bankruptcy must have lived in the state where he or she declares bankruptcy for two years before declaring bankruptcy. A person may also not be eligible to declare Chapter 13 bankruptcy if he or she has declared Chapter 7 or another type of bankruptcy within eight years of declaring Chapter 13 bankruptcy. The exact criteria vary by state and are often outlined in each state's laws. Call this law firm if you have any questions regarding a Chapter 13 bankruptcy in Utah.

Ascent Law LLC

8833 S Redwood Rd Ste C

West Jordan UT 84088

(801) 676-5506

https://g.page/AscentLaw

https://www.ascentlawfirm.com/chapter-13-bankruptcy/

 

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