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How Chapter 13 works
Sample Chapter 13's
What you'll need
Income & Expenses Form
Links
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First, you tell us your REGULAR LIVING
EXPENSES. These include rent/mortgages, assessments, utilities,
food, clothing, drugstore, medical expenses, gasoline, repairs,
insurance, childcare.
Figure average expenses for each
month.
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Next, you tell us what your regular
monthly income is.
Pensions, social security, and wages
from employment all are regular income. Unemployment is NOT
regular income, since it ends. You must have regular monthly
income greater that your total monthly living expenses,
including mortgage and rent.
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| After we look at your income and
expenses, we want to know what your DEBT is. Debt includes: past
due mortgages, vehicle loans, credit cards, old medical bills,
loans, income taxes and almost anything but regular monthly
living expenses. |
The object of Chapter 13 is to make sure
your mortgage and vehicle payments get paid first! Chapter 13
rules can make credit cards wait until mortgage arrears and
vehicles are paid first! |
| chapter13king attorneys know how to make
sure you keep your house and vehicles. We know the way the U.S.
Bankruptcy Code works when you are re-organizing your debts. |
We also need to know what your ASSETS
are! Assets are value of property, value of savings, value of
pensions and IRA's. How much you have to repay unsecured
creditors may depend on your ASSETS. |
| Do you know how much your real estate is
worth? If you don't, check with a local realtor, and get some
comparables. We'll need that information. |
All of this is less complicated than it
seems. Get a free phone mini-consultation with a chapter13king
attorney or paralegal during working hours at 1-888-332-1113!
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