Chapter 13 Filing Process

Chapter 13 bankruptcy is often regarded as a less extreme bankruptcy option when compared to Chapter 7, as debt reduction in Chapter 13 comes from reorganized payment plans and not from liquidating assets. However, this set-up requires more attention to be paid to the actual structure and timeline involved in the bankruptcy process.

For more information regarding your bankruptcy options and a free consultation, contact Birmingham bankruptcy lawyer Paula Greenway at [phone-number] today.

Chapter 13 Timeline

Unlike Chapter 7, the required paperwork for Chapter 13 bankruptcy is used to set up a complicated repayment plan that manages debts and repays creditors. The process for entering into Chapter 13 bankruptcy includes the following basic steps:

  • File a petition for bankruptcy, with full records of property and debts
  • File a notice of completing credit counseling, or a valid notice of exemption
  • File proof of debt repayment plans
  • File proof of employment and wages
  • File a copy of the previous year’s tax return
  • File a complete report on current debts

These basic steps are often complicated by additional requirements as well as requests on the bankruptcy court’s behalf, which need to be given prompt attention in order to complete a bankruptcy petition. Once a Chapter 13 bankruptcy begins, a debtor is required to keep up payments regularly.

Contact Us

If you have been considering bankruptcy as a way to work through your otherwise troubling debts, Chapter 13 bankruptcy may be the best choice for you. To learn more about Chapter 13 and how an attorney can assist you through the process, contact the Birmingham bankruptcy lawyers at [firm-name], today by calling [phone-number].

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