When you hire The Dellutri Law Group, PA to handle your Chapter 13 bankruptcy, we begin the process of working with you to ensure your bankruptcy goes as smoothly as possible. We don’t want you to think that filing for bankruptcy is all kittens and rainbows; there is going to be a lot of work on your end, as well. The paperwork that comes with filing for a Chapter 13 reorganization can seem a little overwhelming at first. However, our pre-filing department has spent thousands of hours perfecting this process. We know everyone operates a little differently, so we offer multiple ways for you to complete this part. We discuss this as part of your complimentary strategy session.
Once your information is collected, your case moves to our filing department. During this phase of the Chapter 13 bankruptcy process, your information is thoroughly reviewed. It is not uncommon to receive a phone call (or two) from our team to clarify information submitted and set you up with an appointment to come in for what we call a “signing appointment.” At your signing appointment, we will go over your bankruptcy petition, schedules, and other related documents, as well as answer any last-minute questions before your case is filed electronically with the bankruptcy court.
After your signing appointment, you will be contacted by our post-filing department. (We know this seems like a lot of departments, but we fully believe in the old saying, “a jack of all trades is a master of none.” Each member of our team is the master at their own roles, giving them the knowledge, speed, and accuracy to best serve our clients). This department will guide you through the rest of your Chapter 13 bankruptcy process.
The post-filing department will also notify you of something called a meeting of creditors. Our office will give you notice of your meeting of creditors in advance. On the day of your scheduled hearing, one of our attorneys will be there to represent you in front of the trustee. During this hearing the trustee will be verifying that all of the documentation you have submitted is true and correct and may have a few other questions about your Chapter 13 plan. Most of the time, this meeting only lasts for roughly five minutes!
Your Chapter 13 bankruptcy will be discharged once all of your payments have been made to the trustee. Depending on your plan, this could take anywhere from three to five years.
How Long Will My Reorganization Plan Last?
This depends on your individual circumstances and a few other factors. Your reorganization plan can be anywhere from three to five years, depending on your average monthly income over the six months prior to the date you filed for bankruptcy.
Are you wondering if you even qualified to file for Chapter 13 bankruptcy? Maybe you are wondering if this is even the right option for you.
Call us now at (800) 391-4337 to schedule your complimentary strategy session!
"Nearly 15 years ago I found the Dellutri Law Group thanks to a Yellow
Pages ad when seeking help for the incredible debt I had accumulated moving
out on my own as a 20 year old. Having newly purchased my first home,
I was working two jobs to make ends meet and barely had enough to cover
the high-interest rate credit card payments, let alone groceries. After
seeking help from Dellutri Law Group, I was honestly amazed that attorney
Carmen Dellutri took the time to explain the bankruptcy process the way
he did (in a way that did not make me feel even more embarrassed or ashamed
about my circumstances). I filed for Chapter 13 and paid off my debts
thanks to Carmen and the team at Dellutri Law Group's advice. All of these
years later I am happy to share that my credit score is stellar and I've
never forgotten the first-class service received by the Dellutri Law Group.
We all make mistakes in life and being able to seek help from professionals
to guide us when we need it most is so important. Please do not hesitate
to research information that Dellutri Law Group posts on their website
or LinkedIn about debt, bankruptcies, personal injury law, etc. Investing
in a professional can in the long run set you up for sincere success,
as it did for me. Thanks Carmen, et al at Dellutri Law Group!"
- R.T. (Google Review)
Chapter 7 vs. Chapter 13
We know that the decision to consider filing bankruptcy is never easy and is usually made after all other available options have been eliminated. Usually, our clients have done some research on their own before considering setting up a complimentary strategy session.
Here’s what you need to know!
Chapter 7 is designed to help the honest but unfortunate debtor discharge all his or her dischargeable debts. The debtor must first qualify for Chapter 7 by passing the means test. Assuming the debtor qualifies for Chapter 7, we look at all their income, expenses, assets, and debts. The most important factor is the debtor’s assets. The assets can be exempted (protected) by the debtor based upon available statutes, which ultimately protects these assets from creditor’s claims. Assets not claimed as exempt are subject to liquidation by the bankruptcy trustee. Once those assets are liquidated (turned into cash), the trustee uses that money to then pay the creditors.
Chapter 13 bankruptcy is known as a reorganization bankruptcy wherein a debtor proposes a plan of reorganization. The plan demonstrates to all the debtor’s creditors how their claims will be treated under the plan. Creditors can object to their treatment under the plan if they believe they are being treated unfairly. The person filing Chapter 13 must also be able to fund the plan. Usually he or she will do this with future wages that will be earned after they file. Accordingly, they must present a feasible budget to the court, which demonstrates their ability to meet all of their monthly obligations and still be able to make a payment to the bankruptcy trustee pursuant to the Chapter 13 plan.
There are many reasons why an individual would file a Chapter 13 rather than Chapter 7. At The Dellutri Law Group, PA, we believe you should never go through the bankruptcy protection process alone and that consulting an experienced bankruptcy attorney is a vital part of the bankruptcy process. Over the years we’ve seen many mistakes made in the bankruptcy court that could have been avoided had the individual discussed their situation with counsel before filing.