The Chapter 13 Process (Part 1)

15 Sep The Chapter 13 Process (Part 1)

For many consumers, a Chapter 13 Bankruptcy offers a terrific way to resolve their debts, give them some breathing room and deal with secured and unsecured creditors. A Chapter 13 is a very flexible and reasonable way to deal with these issues. (See the blog by my friend and colleague, Cathy Moran).

The process starts with the determination of whether you qualify to file a Chapter 13. You must have a regular income and therefore be able to make monthly payments. There are also limitations on the amount of secured and unsecured debt you can have. So, the first thing you should do is to make an appointment with a qualified bankruptcy attorney who can advise you. Some attorneys will ask you to bring all of your financial information to the first appointment, some will have you fill out paperwork either by hand or on line before meeting with you and some attorneys simply want to speak with you first to determine if they can be of help.

Find a good attorney, call her or his office, bring any information requested or prepare any paperwork and make an appointment.

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Douglas Jacobs is a California bankruptcy attorney and partner in the Chico law firm of Jacobs, Anderson, Potter & Chaplin. Since 1988, Mr. Jacobs has taught Constitutional law and Debtor-Creditor/Bankruptcy law at the Cal Northern School of Law. He has served as Dean of Students since 1994. He is a frequent lecturer on the subject of consumer bankruptcy law, and has spoken at both state and national levels.

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