Congratulations! You’re probably wondering why anyone would be congratulating you for filing for bankruptcy. You’ve done yourself a favor by taking the first step in rebuilding your financial life, while at the same time freeing yourself of the stress of managing debt.
As you know, Chapter 13 is a payment-based bankruptcy that can take three to five years to complete. If you’ve filed a Chapter 13, it means you’re paying off some of your debts in what’s known as reorganization. During your bankruptcy, the court allows you a set amount to live on and a court-appointed trustee divides the rest among your creditors each month.
Often times this means a very no-frills lifestyle. Sometimes it means changing the basics in your life, like how much you pay for monthly living expenses such as food, cable, and clothing to accommodate for the required bankruptcy payment. In an effort to adjust to life during a Chapter 13 bankruptcy, I recommend that my clients save ANY additional money that they earn or receive during the case. By saving, rather than squandering the extra money, the client is in a better position to pay for any emergency expense that arises without risking the success of their bankruptcy. If, however, a client believes that they might have enough money to “pay off” their Chapter 13, I strongly urge them to contact their attorney before sending any of the money to the bankruptcy trustee to avoid a problem.
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5.0/5.0Great process. Detailed communication provided resources for rebuilding. Would recommend!
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5.0/5.0
I had an excellent experience working with my bankruptcy attorney. From the very beginning, they were professional, knowledgeable, and compassionate. Filing bankruptcy can be overwhelming, but they took the time to explain every step of the process, ...
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5.0/5.0
I had a great experience using Jeff Field and Associates for filing my Bankruptcy. Everyone was very professional and helpful. Connie Adams was so knowledgeable and patient with all of my questions I’m so glad that I chose this law firm and would r...
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5.0/5.0
Great experience from start to finish. The process was smooth and stress-free, and Ms. Connie was amazing throughout—very helpful, professional, and supportive. I truly appreciate all the guidance and would highly recommend this firm.
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5.0/5.0
I'm just finishing up 5 years of bankruptcy, and I honestly don't know how I would've done it without this Group. Everyone was super professional every time I reached out with questions, and they were always there to answer them. I eve...
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