Chapter 13

Helping People Achieve Peace of Mind Through a Financial Fresh Start

Chapter 13

Chapter 13  | Rodney S. Scott Attorney Law  - Longview, TX

Do you have so many creditors that you’re unable to tell which is which? Are you struggling to keep all of them paid on time Chapter 13 may just be the solution to your problems. Chapter 13 bankruptcy is designed to make repaying your debts easier with the use of a trustee. This option is open to those who have a regular income yet still struggle to pay debts each month.

In a Chapter 13 case you file a “plan” showing how you will pay off some of your past-due and current debts over three to five years. The most important thing about a Chapter 13 case is that it will allow you to keep valuable property—especially your home and car—which might otherwise be lost, if you can make the payments which the bankruptcy law requires to be made to your creditors. In most cases, these payments will be at least as much as your regular monthly payments on your mortgage or car loan, with some extra payment to get caught up on the amount you have fallen behind.

You should consider filing a Chapter 13 plan if you:

Own your home and are in danger of losing it because of money problems;
Are behind on debt payments, but can catch up if given some time;
Have valuable property which is not exempt, but you can afford to pay creditors from your income over time.
You will need to have enough income during your 13 case to pay for your necessities and to keep up with the required payments as they come due.

Cost

It now costs $306 to file for bankruptcy under Chapter 7 and $281 to file for bankruptcy under Chapter 13, whether for one person or a married couple. The court may allow you to pay this filing fee in installments if you cannot pay it all at once. If you hire an attorney you will also have to pay the attorney fees you agree to.

Rodney S. Scott Attorney Law | 509 North Second St, Longview, TX | (903) 753-3023
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