Chapter 13

Chapter 13

Chapter 13 Bankruptcy Attorney in Sunset Hills, MO

A Chapter 13 bankruptcy allows a debtor in Missouri to create a debt reorganization plan supervised by the federal bankruptcy court. Individuals and families facing foreclosure, repossession, or wage garnishment with enough disposable income to repay their debts usually file for Chapter 13. 

Additionally, families with enough non-exempt property (usually sold off in a Chapter 7 bankruptcy) benefit from filing Chapter 13. If you have insurmountable debts that can only be dealt with through bankruptcy chapter 13, consulting with our Missouri bankruptcy attorneys is crucial. We can help you evaluate your case and come up with the best solution for your case. Call us today to schedule an appointment.

What is Chapter 13 bankruptcy?

Different from other types of bankruptcy, Chapter 13 is available to individuals, families, and businesses. It gives debtors the chance to restructure or reorganize their debts to provide their creditors what is due to them. 

Chapter 13 is different from Chapter 7 and Chapter 11. A Chapter 7 bankruptcy filing discharges a debtor’s debts. This means that a debtor gets a ‘fresh start.’ They are relieved of almost all their debts after filing bankruptcy. In Chapter, a business receives a debt discharge for most of their debts and a reorganization plan for their remaining debt obligations. 

On the other hand, a Chapter 13 bankruptcy allows individuals to reorganize their debts by proposing a debt repayment plan to their creditors. This plan would usually last for about three to five years. In a Chapter 13 bankruptcy, the debtor makes all the necessary payments to a Chapter 13 bankruptcy trustee, who will then, in turn, distribute the money to their creditors as payment for their debts. Under the U.S. Bankruptcy Code, the maximum length of time for a repayment plan is five years. In general, the debtor can keep their property, while the creditor gets a payment agreed upon in the bankruptcy.

The amount you need to pay to the trustee each month depends on your income and the total amount of debt owed to your creditors. Failure to pay the payments required under the reorganization plan results in the dismissal of your bankruptcy case.

What are the advantages of filing Chapter 13?

Chapter 13 can provide you with temporary and permanent relief from debts. Once you file a Chapter 13 petition, the automatic stay also takes place. This allows you temporary protection the stops creditors from making any debt collection efforts. 

  • You can stop home foreclosure.
  • You can discharge debts that aren’t dischargeable in a Chapter 7 bankruptcy.
  • You can reinstate a suspended license.
  • You can protect non-exempt properties and assets.
  • Discharge debts from a divorce. 

Once a Chapter 13 debt repayment plan is complete, the bankruptcy discharge gives you permanent relief from your dischargeable debts such as unpaid medical expenses, credit card bills, and personal loans. Do you have debts that you can’t repay? Consult our Sunset Hills Chapter 13 bankruptcy attorneys today to see if they can be discharged through bankruptcy.

Why You Need a Missouri Chapter 13 Bankruptcy Attorney

Filing bankruptcy can be a complicated process. Debtors who plan to file bankruptcy need a reliable and experienced bankruptcy attorney who can help them through the whole bankruptcy process. 

At Doyel Law, we have bankruptcy attorneys who can evaluate your case and develop a plan that best suits your needs. We will help you complete all the paperwork necessary for your bankruptcy filing and accompany you to the creditor’s meeting. Schedule a consultation with us today to know how we can help you get a fresh start.

Facing the threat of foreclosure?

Stop foreclosure! Our foreclosure attorneys in Missouri can help you save your home! Tell us more about your situation.

or Call Us Today! 314-909-9909


Filing a Chapter 13 Bankruptcy in Missouri

If you’re suffering from mounting debt, call Doyel Law today to schedule a case evaluation with one of our reliable Sunset Hills bankruptcy attorneys. We provide legal services to individuals and families in Sunset Hills, Bridgeton, and other nearby areas in Missouri. 

We know how overwhelming it is to deal with unmanageable debt. That’s why we are here to help. Together, we can deal with your financial problems and develop a solution that best fits your needs. Call us today at 314-671-0959 to schedule an appointment.

How long does it take to a Chapter 13 bankruptcy in Missouri?

There are two parts to a Chapter 13 bankruptcy process: 1) getting your plan approved and 2) finishing your debt repayment plan. How long a Chater 13 bankruptcy lasts will depend on your income and how much debt you have. The average filer can get their bankruptcy petition approved within three to six months. After that, the filer needs to complete the repayment plan within three to five years, depending on their specific circumstances.

How much does it cost to file bankruptcy under Chapter 13?

If you’re planning to file for bankruptcy, there are a few things you need to consider:

  • Filing costs and fees
  • Administrative costs
  • Attorney fees

The average cost of a Chapter 13 bankruptcy in Missouri is around $1,500 up to $4,000. However, the actual amount you need to pay greatly depends on your particular situation. If you want to know the estimated costs of filing a bankruptcy, consult one of our Chapter 13 bankruptcy attorneys today. Our attorneys can help individuals, families, and businesses in Sunset Hills, Bridgeton, and more locations in Missouri.

Can I file a chapter 13 bankruptcy in Missouri?

Before you file your bankruptcy, you need to ensure that you’re qualified for the type of bankruptcy you’re planning to file. Generally, you need to consider three things:

Are you filing bankruptcy as an individual or a business?

Since Chapter 13 is personal bankruptcy, it is a type of bankruptcy only available for individuals and not for companies and businesses.

Do you have a regular source of income?

A Chapter 13 bankruptcy aims to restructure your debts to make it easier to repay your debts. Therefore, it requires that you have enough disposable income to make debt repayments without compromising your usual living standards. If you can’t convince your creditors and the bankruptcy trustee that you have enough income to complete the debt repayment plan, the court won’t grant you a bankruptcy discharge under Chapter13.

What types of debts do you have?

Secured Debts

Secured debts are debts that have collateral, such as a home mortgage or an auto loan. If you fail to repay these types of debts, then your creditor can seize or repossess your property that is under collateral.

Unsecured Debts

On the other hand, unsecured debt is a type of debt that doesn’t have collateral. 

If you’re thinking about filing bankruptcy and you’re not sure what type of debts you have, then you may consult one of our Chapter 13 bankruptcy attorneys. We will thoroughly examine your case and help you develop a debt solution that is right for you.

Facing the threat of foreclosure?

Stop foreclosure! Our foreclosure attorneys in Missouri can help you save your home! Tell us more about your situation.

or Call Us Today! 314-909-9909


Will I lose my property in Chapter 13?

In Chapter 7 bankruptcy, there are exemptions that we apply to your property for you to keep it for a fresh start. Without exemptions, they would take everything you own and sell it to pay creditors. This is completely unfair, so we exempt property that you can keep for a fresh start. Sometimes the value of your property may exceed the available exemptions. In those cases, Chapter 13 can be used so that you can keep the property you worked hard to obtain.

Filing a Chapter 13 Bankruptcy in Missouri

Once you know that you’re eligible for a Chapter 13 bankruptcy, you can start the bankruptcy process right away. 

  • Take a pre-bankruptcy credit counseling course.
  • Prepare your Chapter 13 bankruptcy petition and come up with your proposed debt reorganization plan. 
  • File your bankruptcy and debt repayment plan to the bankruptcy court.
  • Attend the 341 creditors’ meeting.
  • Complete the required financial and debt management classes.
  • Complete your bankruptcy discharge.
 

Why should you file for bankruptcy under Chapter 13?

You didn’t qualify for bankruptcy under Chapter 7.

The bankruptcy means test determines whether you’re qualified for bankruptcy under Chapter 7. What it mainly considers is your income. If you have an income above the median income in Missouri, you’re not qualified to file Chapter 7. Instead, you may try filing for Chapter 13 bankruptcy.

You want to keep your assets and properties.

Under Chapter 7 bankruptcy, your non-exempt assets are liquidated so you can repay your creditors. This means that a bankruptcy trustee can sell your house, car, or other properties that can otherwise keep in a Chapter 13 bankruptcy.

You want to avoid home foreclosure.

Filing for a Chapter 13 bankruptcy is ideal for families who wish to keep their homes even in bankruptcy. Under the debt repayment plan in Chapter 13, you can catch up on any missed payments for your home mortgage. It can also help you to a car repossession or a wage garnishment.

Filing for Chapter 13 

Just like in Chapter 7, bankruptcy laws require that we obtain certain information from you. This is to ensure that we have accurate information so that your case will be successful and also that as attorneys, we do our due diligence to verify that what you tell us is correct.

We strive to make that process as simple as possible and will explain every item we need. At Doyel Law, we believe that you hired us to represent you in your bankruptcy, and as part of that representation, we do not have long, complicated forms to fill out. It’s as simple as you giving us the documents needed, and we do the rest.

Once you turn in all the required information, we will typically have your case ready to file in just a few days. At that time, we will have a “filing review” meeting with you to detail all the information and ensure that it is complete and accurate. At this meeting, we will provide you with all the documents to be filed so that you can read and sign everything. No surprises, the key to a successful bankruptcy are honesty and accuracy.

After we know that the bankruptcy documents are accurate and complete, we will file your case electronically with the court. As soon as the claim is filed, everyone you owe money to just stops trying to collect from you. This means that the phone calls, garnishments, lawsuits, and foreclosure must stop. Your first payment to the Trustee will be due in 30 days from the date the case is filed.

Hiring a Missouri Chapter 13 Bankruptcy Attorney

Filing for a Chapter 13 bankruptcy in Missouri can be a complicated process. To help you navigate the bankruptcy process, our reliable and experienced Chapter 13 bankruptcy attorneys in Sunset Hills, Missouri, can assist you in all the necessary paperwork. Schedule a case evaluation with our Chapter 13 bankruptcy attorneys at Doyel Law today!

Facing the threat of foreclosure?

Stop foreclosure! Our foreclosure attorneys in Missouri can help you save your home! Tell us more about your situation.

or Call Us Today! 314-909-9909

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