What is Chapter 13 Bankruptcy?

How is it different from chapter 7? When should you file chapter 13 and when should you file chapter 7?

Read on and you will find out all you need to know.

There are two types of bankruptcies that people file, chapter 7 and chapter 13.

Chapter 7: The goal in chapter 7 is to wipe off the debts and never pay them back again. In order to qualify for a chapter 7, you need to pass the government's means test. In a chapter 7, you file 45 to 60 pages or so of paperwork, you go to a trustee hearing, the trustee examines your paperwork and recommends to the court to grant you a discharge, the court grants you the discharge and you are done. There are two main events in a chapter 7 and they are, (a) the filing of the bankruptcy documents and (b) the trustee meeting that is held about 4 weeks later. For most debtors, that is pretty much all you have to do. You get a notice in the mail about 4 months later saying that the debts are discharged, never again to be owed.

Chapter 13: The goal in a chapter 13 is to pay back some or most of the creditors, over a 3 to 5 year period. The obvious question that comes up is, why would anyone want to pay back their debts if they can get them discharged in a chapter 13? There are many reasons why a person may want to file a chapter 13 instead of a chapter 7 and here they are.

You may want a chapter 13 if...

1. You are behind on some of your secured debts and you need time to get caught up. For example, let us say that you are several months behind on your mortgage and you are afraid that they will foreclose on the property, but you do not have the money to get caught up on the arrearage. If you can handle your regular monthly payment of say, $2,000 and you have $8,000 in back payments, it would make sense if you can be given say, 36 months to pay off the $8,000 while you keep up with the regular payments. Chapter 13 gives you the time you need to pay off the back payments and avoid foreclosure by setting up a repayment plan. In this example, you might set up a plan where you pay off the $8,000 with monthly payments of $220. That is a lot better than loosing your house in foreclosure.
   
   In this situation, what would happen if you filed a chapter 7? It would depend on the rest of your debt picture. Under a chapter 7, you will not be given time to pay off the $8,000 in back payments and the lender could still proceed with a foreclosure after a brief delay caused by the filing of bankruptcy. Now, if you have the means of pay off the $8,000 but your problem is that the credit card payments are draining you, filing a chapter 7 could make sense because with those debts gone, you can devote all available funds to paying off the $8,000 arrearage. On the other hand, if you still cannot pay off the $8,000 arrearage in a chapter 7, then chapter 13 is your only choice.
   
   This same example applies to other types of secured debts such as auto payments, etcetera.
    
2. If you have taken the chapter 7 means test and do not qualify for a chapter 7 discharge because your income is too high, then chapter 13 is your only choice. You will know this because you have either taken the means test at a site like, www.freemeanstesting.com or you have talked to an attorney and have been told to file a chapter 13.
    
3. There is a waiting period of 6 to 8 years between filing repeated chapter 7s. If you filed chapter 7 some years ago and are not eligible to file again for a few more years, but in the mean time, you desperately need protection from creditors, then a chapter 13 would be the right solution.
    
4. Finally, there are those who refuse to file a chapter 7 because of personal ethics. They feel that paying back their debts is the morally right thing to do and they just need some breathing room to do so. For such people, a chapter 13 bankruptcy is the right solution.

What is involved in filing a chapter 13?

A chapter 13 bankruptcy uses many of the same forms as chapter 7 as well as one more form known as The Plan. If a chapter 7 document set for a specific person consists of say, 50 pages, the chapter 13 document set will consist of about 51 pages. So, from the stand point of the paperwork, they are similar. But this is where the similarity ends.

Two fundamental things distinguish a chapter 13 bankruptcy process from a chapter 7 and they are, the enormous attorney fees and the chapter 13 Plan.

1. Chapter 13 bankruptcies afford attorneys the opportunity to overcharge their clients. How so, you may ask? The answer is that most chapter 13 attorneys tuck away into the payment Plan, $2,000 to $3,000 in attorney fees, in addition to the initial retainer fee that they ask for upfront. In doing so, they structure the Plan so that they get paid this $2,000 to $3,000 before a single penny goes to the creditors. In the example above, let us say that you are to pay $220 per month to get caught up with the mortgage, you might be stuck paying the attorney $300 to $500 per month in just attorney fees for a whole year, before any of your money goes to paying the mortgage arrearage. In fact, may debtors drop out of chapter 13 in the first year, and the real kicker is that during that time, all they paid was just the attorney fees.
   
   If you doubt any of this, then click the following links and you will pull up several actual chapter 13 plans where you can see the attorneys paying themselves thousands of dollars first, before paying the creditors. Actual attorney plan #1, Actual attorney plan #2, Actual attorney plan #3.
    
2. The second fundamental element in a chapter 13 bankruptcy is The Plan. The Plan is the one or two page document in which you propose to the court how you are going to pay the creditors. Unlike the petition and schedules which are standardized and prescribed by the official federal bankruptcy forms, there is no such a thing as a standard chapter 13 plan for all courts. Each court uses its own plan and the plan used in one district often looks nothing like the plan used in another.
   
   The Plan is the key difference between a chapter 7 and a chapter 13. The plan maps out what is to happen to your pay check for 3 to 5 years. All of it! While you are in the Plan, your paycheck is not your paycheck but the trustee's. If you get a pay raise while in chapter 13, it is the trustee who decides what happens to it. If you get a tax return, it is the trustee who decides how much of it goes into the Plan.
   
   While you are in a chapter 13, you have to follow the plan and if you falter, the court could dismiss your bankruptcy and you could end up back where you started, with the only real difference being that the attorney got paid and you got nothing. For some people, it is this constant lack of freedom over their own money that makes them prefer a chapter 7.

Who Can File Chapter 13?

Any natural person or married couple can file a chapter 13 bankruptcy, provided that they have "regular income." What is regular income? Regular income is any income that you receive that is likely to continue on a periodic basis. This includes employment income, commissions, disability benefits, self-employment income and regular support payments.

It does not include gifts, gambling winnings, public assistance. If you are unemployed and have no regular income, you do not qualify to file chapter 13. It makes sense since you need dependable income to pay the creditors.

Corporations and partnerships cannot file chapter 13.

So what are the steps in a chapter 13?

Here are the basic steps...

• You file the chapter 13 bankruptcy documents.
• You file the Plan (if you did not file them with the other documents.)
• You attend the meeting of the creditors or trustee hearing just as in a chapter 7.
• You attend a confirmation hearing in which the judge decides whether or not to approve the Plan that you proposed. (Most courts schedule the trustee hearing and the confirmation hearing for the same time)
• The court approves the Plan or modifies it at the hearing.
• You begin your 3 to 5 year Plan payment period.
• In 3 to 5 years when you have completed the Plan, your bankruptcy ends.

We will talk more about the Plan and the chapter 13 process on this page, but for now, let us focus on why you should use us for your chapter 13 and what we can do for you.

How Does Chapter 13
Really Work?

Further down on this page we present an excellent treatment of the basics of chapter 13 bankruptcy and the plan.

Look out for it later on in this page. It will clear many of the myths regarding the chapter 13 repayment plan.

Find out below

-----------Fact:
We have prepared well over
15,000 bankruptcy cases and more than
225,000 bankruptcy documents.

We have the experience to handle yours.

-----------Fact:
And we have never had a bankruptcy
rejected by any court!

And that is impressive when you consider that we have prepared
more than 225,000 documents.

-----------Fact:
We can complete your bankruptcy in
one day or in just a few hours.

And we back it with a 100% money-back guarantee.
 

Here is what we do.

We prepare your petition and schedules for you.
We prepare 100% of your official federal bankruptcy forms from the petition to the chapter 13 schedules so all you do with them is sign your name and turn them in.

We hold your hand all the way.
After preparing your documents, we guide you through the process so that you are never alone.

1. We tell you exactly where and how to file it. It is as simple as mailing our documents to the court after you have signed them.
2. We guide you step by step so that you know what to expect at all times.
3. We will answer your questions, no matter how many they are. Contact as as often as you like, before, during and after filing and we will answer your questions.
4. We hold your hands so that you are never alone.

If you need to pay the court filing fee in installments, we show you what to do.
It is usually best to pay the court filing fee in one payment, but if you are short on money and need to pay the court in installments, we will show you how. The court clerk can allow you to file with a deposit of as little as $50, with the rest paid in installments.

Our bankruptcy law reference,
Has been rated the "best consumer bankruptcy law resource" on the internet and is often quoted by attorneys and by other bankruptcy services. It is right here and only a click away.

We do more than prepare perfect bankruptcies -- we make the whole process incredibly easy! Here is what we will do for you...

1. We will prepare all of the official federal bankruptcy forms that you will need for a Chapter 13 bankruptcy. It includes over 45 or more pages of the schedules, statements, etcetera. All you do with them is sign your name and send them to the court.
   
   Here is a partial list of what we will prepare for you...
   
   • Voluntary Petition
   • Summary of Schedules
   • Notice to consumer debtors
   • Schedule-A: Real Property
   • Schedule-B: Personal Property
   • Schedule-C: Exempt Property
   • Schedule-D: Secured Creditors
   • Schedule-E: Priority Creditors
   • Schedule-F: Unsecured Creditors
   • Schedule-G: Executory Contracts and Leases
   • Schedule-H: Co-debtors
   • Schedule-I: Current Income
   • Schedule-J: Current Expenses
   • Declaration Concerning Schedules
   • Statement of Intention
   • Statement of Financial Affairs
   • Statement of Current Income and Commitment
   • Creditor Mailing Matrix
   • Statement of Social Security Number
   • And more
      
2. Our documents are always up-to-date and accepted in every bankruptcy court in every state. We guarantee it.
    
3. We have prepared  more than 15,000 bankruptcy cases and NONE have ever been rejected by any court in any state -- and that is the secret behind our 100% money-back guarantee. In contrast, most chapter 13 bankruptcy filings done by do-it-yourselfers get rejected repeatedly and many lawyer-prepared bankruptcies do not fare better.
    
4. If you need to file a joint chapter 13 bankruptcy with your spouse, we will include him or her at no extra cost. There are no hidden fees, no add-ons, no extras.
    
5. If your bankruptcy court requires the creditor address list on a diskette, we give it to you formatted for easy copying to diskette. (Bankruptcy kits and software cannot help you with this.)
    
6. We will accept an UNLIMITED number of creditors, collection companies, etcetera, so you do not have to fear getting bumped up in price for having many creditors. (Attorneys and paralegals often charge as much as $20 for each creditor after the first five.) Pile on the bills. We can take it.
    
7. We will also accept any number of property listings so that you don't have to worry about being charged extra. One low flat fee does it all.
    
8. What is chapter 13 bankruptcy preparation without oodles and oodles of changes? You can change your information as often as you like before the documents are done and we will not charge you a penny more.
    
9. Think about it. With paper forms and kits, if you type the forms and later remember another bill, you have to start all over again in order to keep the list in alphabetic order. You may be the best typist in the world but when you have to prepare intricate bankruptcy documents and tear them up to start all over again 7 or 8 times, it will get to you. (Pile up the changes on us. We can take it and there is no extra charge.)
    
10. We usually complete the documents in a few hours not days. If you hire an attorney or paralegal, be prepared to wait a couple of weeks to get your papers back.
     
11. Our chapter 13 bankruptcy will stop the creditors from calling or bothering you right away. You do not need to pay hundreds of dollars to an attorney to answer your collection calls.
     
12. You do not need to contact the creditors or to send them letters. We see to it that your bankruptcy documents have everything that the court clerks will need to send the notices for you. (It is about time the bureaucrats worked for you. Sit back and let them contact your creditors for you, telling them to leave you alone.)
    
    Please note that if you use bankruptcy software or paper forms, you run the risk of screwing up vital parts of it and then being asked by the court to manually contact the creditors yourself.
     
13. You do not need to make photo copies because you get as many copies with us as you need.
     
14. Imagine going to a doctor and being told to operate on yourself. That is pretty much what happens with almost all the bankruptcy attorneys, paralegals, and bankruptcy programs. They make you fill out 30 to 40 pages of the same bankruptcy forms that they are supposed to type for you, just so that they can have the information in an easy to retype form. (The thought of it is just unsettling.)
    
    With us, we give you the absolute easiest online questionnaire imaginable. You never type anything twice and what you do enter requires no thinking, pondering, figuring out or organizing. Give us your information in any order you want and as disorganized as you like and we will make sense out of it. You can fill out our questionnaire in minutes compared to literally days with others.
     
15. What's more, you do not have to finish giving us your information in one sitting. You can save your information in our online questionnaire with the click of a button and come back days later and continue where you left off, change what you already entered or just add more. (By now you are beginning to get our slogan, "there is no extra charge".)
     
16. We answer your questions, no matter how many they are. Contact us as often as you like, before, during and after your bankruptcy. We are always there to help you. We hold your hands every step of the way so that you are never alone.
     
17. Our privacy policy is simple. We never share your information with anyone but you, PERIOD!
     
18. We guarantee that the official bankruptcy forms we prepare will be accepted by the court or your money back!

A common misconception is to think that hiring a lawyer will ensure a smooth bankruptcy. In fact, the truth is that as is the case with do-it-yourselfers, a large number of lawyer prepared bankruptcies get rejected and have to be redone or corrected two or more times. Incredible as it sounds, you only have to read our past customer courtroom reports below to be convinced.
 

Why do so many lawyer-prepared bankruptcies hit the rocks? To answer this question, you must understand that bankruptcy lawyers do not prepare bankruptcy documents. Preparing 40 to 100 pages of repetitive financial data and statistical mumbo-jumbo is not what they are good at. They are good at making the sale and getting you to sign their five page retainer agreements. It is their office staff that prepare the documents and quite often, these people do not have much experience or training. Also, because of their high prices, most lawyers do not prepare more than 10 to 15 bankruptcies all year and that is too little experience to rely on.

What is it like to appear in bankruptcy court? Here are eyewitness accounts.

Wouldn't it be nice if you could know exactly what happens when you go to bankruptcy court.

• Is there a judge?
• What do they look for?
• What do they ask you?
• What do you say when they call you up?
• What do you wear to the hearing?

Lucky for you, we asked the same question to dozens of other past customers .

Here is what we asked them:

"Describe what it was like for you when you went for your bankruptcy hearing."

What we got back from them will amaze you. First, you do not appear in front of a judge. Second, they ask you only a coupe of questions such as whether or not you want to go through with the bankruptcy. For most people, the whole process lasts only one minute or less.

Their responses are NOT testimonials but valuable insight that can help guide you and put your mind at ease about the court process.

Click on each of the links below and a window will pop up displaying their actual accounts in their own words of what they heard and saw in court. Please remember that these are the personal experiences of the individual contributing debtors and we neither endorse their views nor recommend that you rely on them.

Perhaps the most notable part of it all is that they unanimously said that they were very happy that they did not waste their hard earned money on hiring an attorney to go to the hearing with them.

If that sounds strange, it is because at the creditor meeting...

1. You cannot be represented by any attorney in the usual sense. An attorney can accompany you there but he or she cannot take your place or talk for you. You must appear in person.
    
2. If you appear with an attorney, he or she is not allowed to speak for you. You must answer the one or two easy questions that you will be asked.
   
   (So here is the picture. You pay many hundreds of dollars for an attorney to show up at the hearing with you. When you get there, the attorney only reads his or her name into the microphone, sits down and is done. He or she cannot answer any questions for you or even tell you what to say. The trustee asks you, "are you sure that you want to go through with it and is the information on your documents correct?" You answer yes to both questions and you are done, PERIOD.)
    
3. In fact, in some situations, you are better off going to the hearing without an attorney even if you can get one for free. That may sound radical but it is backed by eyewitness accounts of some debtors.

How can going to your trustee meeting with an attorney be disadvantageous in some situations? Granted, it is rare for an attorney to hurt your bankruptcy, but it can happen. Here is an actual event that took place for some unfortunate rich debtor.

A man goes to his bankruptcy hearing and is asked by the trustee how much he paid his attorney. When the trustee hears the huge amount the man paid, he decides to really interrogate this debtor. In the process he turns up lots of stuff that was not on the bankruptcy papers and then compels the debtor to write him a fat check for many thousands of dollars.

The moral of the story is that if you appear at the hearing without an attorney, the presumption is that you are too broke to afford one and that you deserve to have you debts discharged without wasting the time of the other people who are waiting their turn at the hearing.

Stated another way, if you show up at the hearing with an attorney, it can often be seen as a possible sign that you might have something to hide and that you have been coached by the attorney on how to beat the system.

Now, that does not mean that you should not hire an attorney if you are the nervous type or if you have medical or psychological issues and need an attorney to hold your hand. If you own a business or have a complicated case, consultation with an attorney is highly recommended.
 

Do you have an emergency situation that you need us to address right away?

Click on the ones that apply to you?

• Eviction [Click here]
• Foreclosure [Click here]
• Wage Garnishment [Click here]
• Lawsuit [Click here]
• Repossession [Click here]
• IRS/Tax Problems [Click here]
• Student Loans [Click here]
• Credit Card Debts [Click here]

Here are the 5 easy steps.

• Step #1 Order our bankruptcy preparation service.
• Step #2 Log in and enter your bankruptcy information
• Step #3 We prepare all of your documents for you.
• Step #4 You sign and file the documents.
• Step #5 Attend the creditor meeting and the confirmation hearing it is over.

3 More Reasons to Avoid Bankruptcy Software

1. It seems that everywhere you go these days on the Internet, there are software writers trying to get you to download some Trojan worm so that they can take control of your computer.

   Many of the programmers who write bankruptcy programs also write programs for other industries such as spam marketers, hacking networks and the like. That does not by itself make them bad, but when you realize that almost all programmers allow themselves back door access to their programs, extreme caution is prudent. It is one thing to be fooled into downloading a computer virus or worm, but it is quite another thing to install a bankruptcy program that gives full control of your computer's hard drive and vital operating system files to some stranger.

2. The second issue with bankruptcy software is that like all programs, you have to learn to use them. How long did it take you to learn how to use a spreadsheet program or a word processor such as WordPerfect? Those applications are written by major companies who are experienced in writing for the masses, but you cannot say the same about the no-name authors of those bankruptcy programs.
    
3. What if you never quite master how to use their programs to prepare your bankruptcy? That is your problem, not theirs. As far as they are concerned, you wanted a computer program and they sold you one. They did not promise to also prepare your bankruptcy with it. In short, you are on your own. In fact, that is the problem with all do-it-yourself alternatives out there, whether they are paper forms, bankruptcy kits or programs.

In contrast, having a professional company prepare a Full-Service bankruptcy for you is to step up to a whole other class of service. One cannot compare our Full-Service to the do-it-yourself gamble at any price.

Play it safe and have your bankruptcy prepared Full-Service for you rather than risk giving control of your computer to a bankruptcy software writer.

The Hidden Truth About Debt Consolidation

Given a choice between two evils, infecting your computer with a downloaded bankruptcy program or signing up for credit counseling, believe it or not, the better of the two evils is to have the bankruptcy software destroy your hard drive.

The reason is simple. You can get a new hard drive for a couple hundred dollars if yours is trashed by the bankruptcy software but if you fall for credit counseling, you will totally wreck your already ruined credit and you will be relived of as much as $5,000. Yes, that is about how much the so called non-profit debt consolidation outfits will drain from your finances before you wake up and file bankruptcy. You can read more about it by clicking on this link.

What sort of debts can you include in a chapter 13 bankruptcy?

You can include just about all types including the following:

• Judgments from $1 to millions of dollars.
• All collection accounts.
• Hospital bills.
• Doctor bills.
• All major credit cards debts regardless of amounts.
• Store cards and all other charge card debts.
• Pending lawsuits.
• Deficiency judgments on auto repossessions.
• Deficiency judgments on mortgage foreclosure.
• Automobile accident insurance claims against you.
• Personal loans.
• Signature loans.
• Current unpaid rents.
• Past rents.
• Lawyer fees.
• Taxes.
• Qualifying student loans.
• Evictions.
• Auto loans.
• Auto lease debts.
• Collateral loans.
• Wage garnishments.
• Phone bills.
• Cable bills.
• Utility bills of all types, past and present.
• Gambling debts.
• Secured debts.
• Unsecured debts.
• Certain types of divorce related debts.

You decide which debts to keep and
which debts to include.

It makes sense to list all of your debts but we do not insist on it. Some people prefer to leave out a new credit card and if it is okay with them, it is okay with us. You can decide which debts to pay directly to the creditors and which debts to pay through the trustee in the Plan.

We will e saying more about what can be included in the chapter 13 Plan and what cannot. Look for it later on this page.

Improve your credit report? Yes, bankruptcy can improve your credit.

It sounds like a misprint, but we mean it when we say that bankruptcy will improve your credit, particularly if it is already bad. Here are some facts about bankruptcy and your credit.

1. Bad credit does not get better with time. Collection companies can renew the charge every seven years and keep it on your credit report almost indefinitely. Bankruptcy might stay on your credit for a few years but bad credit without bankruptcy could follow you into old age.
    
2. Like surgery, bankruptcy will hurt for a short while but in the long run, it will restore you to good credit.
   
   Talking about good credit, we have a special offer to help you remove bankruptcy from your credit report before the usual 10 years are up. Watch out for it below!
    
3. Even with bankruptcy on your record, you can qualify for a new home mortgage in just two years. With plain bad credit, it will never happen. Prove this to yourself by calling any mortgage lender and asking them how long you need to wait before applying for a mortgage with them.
   
   Why would you listen to any credit counseling company that tries to scare you with the usual, "bankruptcy on your credit for 10 years" nonsense?
    
4. If it is auto financing you are interested in, after filing bankruptcy, expect to be flooded with mail from your local auto dealers welcoming your business.

Remove bankruptcy from your credit report in months, not years?

If you are the impatient type and you would rather remove bankruptcy from your credit altogether now rather than wait for it to fall off in ten years, it is possible.

Removing chapter 13 bankruptcy from credit reports in just months after the end of the Plan is not easy and to our knowledge, only a few law firms have the know-how to do it. We can set you up with them after your discharge.

Keep in mind that, we will not do the credit repair work ourselves and we do not get anything for offering you this help. It is just that we know it works and we want to pass it on to you in appreciation for your business.

After ordering our bankruptcy preparation services, log on to our customer site and click on the "resources" link to get the setup information that you will need for the aforementioned law firms.

Make your bankruptcy filing a slam-dunk...A 100% guaranteed slam-dunk!

Look for out 100% money-back special offer.

Order today and take advantage of these special offers.

Procrastination is a hard habit to kick so we are going to help you by making you an offer you cannot refuse.

Special Offer: Order our excellent professional bankruptcy preparation services today and we will give you a generous price discount off our already low price. Read more about it on the order page.

Special Offer: Order our excellent professional bankruptcy preparation services today and we will double our money back guarantee. Read more about it on the order page.

Special Offer: Order our excellent professional bankruptcy preparation services today and we will throw in for free a chapter 13 Plan template. Read more about it on the order page.

Special Offer: Order our excellent professional bankruptcy preparation services today and we will help you get set up for the special bankruptcy removal service we mentioned earlier. Read more about it on the order page.

We are rated "the best bankruptcy" preparation company on the web for a reason.

We obsess over customer satisfaction and we do so for more than altruistic reasons. Much of our business comes from referrals from our very satisfied customers and it makes sense to continue pleasing them. But there is more to it than that. It is a pride of workmanship thing. It is like being a straight "A" student and refusing to settle for less, no matter what. Here is our pledge.

• Order our services today and we will obsess over delivering the best bankruptcy documents possible to you, as though you were our only customer.
   
• Order our services today and we will do whatever it takes to do it right, plus, we will hold your hand every step of the way, so that you are never alone.

How Does The Chapter 13 Repayment Plan Really Work?

The original intention of chapter 13 was to allow people who are behind on their secured payments enough time to get caught up. If a debtor was several months behind on her mortgage payments, the repayment Plan would allow them 3 to 5 years to pay back the arrearage.

This meant that if you filed a 13 back in the day, you only needed to propose a Plan that called for paying back only the arrearage on secured debts

Under the new laws, that has all changed.

These days most people who file a chapter 13 do so because they cannot file a chapter 7. For them it is not a matter of paying off some arrearage.

Your reason for filing a chapter 13 has everything to do with what is best for you in a repayment Plan.

If you are filing a chapter 13 because you are far behind on your mortgage, you may want a longer repayment period. The idea is that the longer you have to pay off the arrearage, the smaller your monthly payments should be. It makes sense doesn't it?

The reality for most people is that the new law seeks to force you to pay back the unsecured creditors even if you are current on all the secured debts. The idea is that of fairness. When they wrote the law, the credit card companies did not want to see people walk away form their credit card debts. They wanted to force as many people as they could from chapter 7 to chapter 13.

How does the new law manage to make chapter 13 bankruptcy fair? How do they determine when you have suffered enough?

The law does it by estimating what the average person or family will need to pay for their day to day expenses and then comparing it to the person's income.

For instance, if the government formula says that a family of 3 in your state and county needs $3,000 per months for food, clothing and shelter but your actual income is $3,500 per month, your disposable income would be 3,500 minus 3,000 = $500.

In this example, $500 would be the monthly payment towards repaying unsecured debts under the Plan. This is the calculated disposable income.

Depending on your income, the government formula could determine that you should be given 3 years to repay this money. In this case, you would pay $500 per month for unsecured debts through the trustee for a period of 3 years, for a total amount of ($500 X 36 months) $18,000.00

Which debts would you have to repay with this $500 per month? It is not going to be your regular monthly mortgage payment or your regular car payment. It is going to be the unsecured debts such as credit cards or debts without collateral.

This is only an abbreviated illustration of how how the new bankruptcy forces chapter 13 debtors to repay unsecured debts.

What happens with the secured debts? What happens with arrearages or back payments on secured debts? How does the new law determine if your repayment period is 3 years or 5 years? Where do get you the government formula and how do you actually calculate the presumptive disposable income?

In addition to preparing your official federal bankruptcy documents...

• We perform all the government formula calculations.
• We crunch all the numbers and tell you what the presumptive disposable income is.
• We determine from your information whether or not you have to pay back any unsecured creditors.
• We calculate the repayment period, that is 3 years or 5 years.

We cover all of the details of how chapter 13 bankruptcies work including the trustee, secured debts, mortgage arrearages and a lot more once you hire us.

Further down on this page, we talk about the process of preparing the repayment plan. Look out for it.

Going back to talking about our services and why we are the best choice for your chapter 13 bankruptcy needs...

	We provide professional preparation of the official federal chapter 13 bankruptcy forms that you will need to file a personal Chapter 13 bankruptcy. All you do with them is sign your name and mail them in to the court for filing. We provide you the court address and phone number and tell you exactly what to do.
	If you are filing jointly with your spouse, there is no extra charge.
	We prepare it all 100% online and deliver it you online, giving you the ultimate in convenience.
	You can give us an unlimited number of creditors and collection companies. We will not charge you any extra for having too many bills like others do.
	You can make as many changes to your information and as often as you want until our job is done, and we will not charge you a penny extra.
	You can save your information at the click of a button and come back later to add more information or to change anything.
	There are no paper forms for you to spend weeks wrestling with and no bankruptcy software to risk installing on your computer.
	If you need the document completed the same day, just let us know and we will do it without charging you any extra. Even without your asking for it, we complete almost all cases in a few hours.
	There is no need for you to write letters to all your creditors. We get the court clerks to do that for you by providing them in your finished documents, exactly what they will need to in order to contact the creditors for you.
	You do not need to pay for photocopies of the documents because you get from us as many copies as you need.
	You do not need to know anything about bankruptcy in order to give us your information. We take the information from you online in the easiest questionnaire possible. You answer a few questions and we do the rest.
	Any information that you give us is completely confidential. We do not spam you and we do not sell or share your information with any other person or company.
	We protect your information with 128 Bit SSL encryption, the highest industrial strength security available.
	We hold your hand every step of the way so that you are never alone. Contact us as often as you like, before, during and after your bankruptcy. We will always be there for you.

Our Risk-Free Guarantee:

We will prepare 100% of your official federal chapter 13 bankruptcy forms consisting of the petition, schedules and statements exactly to the requirements of the Federal bankruptcy Rules and your documents will be accepted for filing by the court clerk as meeting or exceeding the federal requirements or you get all of your money back.

In fact, let us kick it up a notch...

• Order today and we will double our money-back guarantee. (Please note: If you delay, only the full money-back guarantee will apply.)

We can make this strong guarantee because we have never had any bankruptcy filing rejected by any court.

When filing bankruptcy, the last thing that you want to worry about is your bankruptcy getting thrown out by the court. If you prepare your bankruptcy by yourself or with do-it-yourself bankruptcy software, you stand a good chance of it being rejected.

Hire us today and enjoy the peace of mind of knowing that we will do it right. We will hold your hand from start to finish and we will be there for you even after your bankruptcy is over.
 

What if you can keep everything that you own, cars, houses, etcetera?

With a chapter 13, you can keep what you want. We have prepared numerous bankruptcy documents and not one of our customers has lost any house, car, bank accounts or any other assets to the courts that they wanted to keep. That is not to say that you can file bankruptcy and keep a million dollars in cash just because we prepared the documents. Of course that would be ridiculous.

When you hire us we give you access to practical everyday information that will show you how to legitimately protect your assets. [Certain information drawn from third party sources.]

We have the best consumer bankruptcy law reference on the internet and you can go there by clicking "bankruptcy law reference".

What if you have been stuck with divorce related debts and have been told that you cannot discharge them in bankruptcy? What if you can get rid of them?

Many of you got to where you are because of a divorce and you were not only stuck with attorney bills but were ordered to take on more than your fair share of the marital debts. That stinks, but what can you do?

In some situations, you can wipe out even the court ordered marital debts, but how?

When you hire us, we give you access to information that will separate fact from fiction and help you to make the right decisions. Do-it-yourself forms and software can not give you this kind of help. If this is your situation, consider if you can file a chapter 7 because it is ideally suited to this sort of matter.

What if you owe taxes and have been told that you cannot get out of paying them? What if you can actually get rid of them?

There are lots of misconceptions about getting rid of taxes through bankruptcy. What are your rights and how can you legitimately use bankruptcy to discharge back taxes? You can pay back taxes in a chapter 13 but if what you really want is to wipe them out, you may want to look at our chapter 7 services.

You will not find this in any bankruptcy forms package or software. Hire us to prepare your bankruptcy and we will give you instant access to information that will clear the air and show you how to get rid of most tax debts.

What if you can discharge a secured debt and still keep the collateral?

 Chapter 13 can allow you to pay off secured debts such as auto loans and keep the collateral, but there is an alternative. With a chapter 7  if you have put up some of your property as collateral for a loan, can you keep it without having to reaffirm the debt or surrender the property to the creditor?

Normally, you have to either surrender the securing collateral or keep it by reaffirming the debt, but there are exceptions. Certain kinds of secured debts can be wiped out without your having to give up the collateral. Which ones are they and how do you do it? You have gotten to this point in the page because you are interested in a chapter 13, but if you did not know some of these things that you can do through a chapter 7 you may want to give it another look.

You will not find this in any bankruptcy forms package or software. Hire us to prepare your documents and we will give you access to this valuable information.

What if you can force most of your secured creditors to accept pennies on the dollar while allowing you to keep the collateral debt free?

Chapter 13 can allow you to pay less than you owe on secured debts and keep the collateral but chapter 7 can do the same in some situations. There are some rare and incredibly delicious cakes that only come in small portions and we all wish we could eat them and still have them. You can eat this cake and still have it. Here is a synopsis of how it works.

In chapter 7 bankruptcy, you are allowed to exercise the right of redemption and thus keep the collateral debt free. Technically, most secured collateral can be redeemed but it is not expedient in every instance.

If you have secured debts such as cars, electronics, computers and more, which ones should you redeem and how do you go about doing so? This is a very fascinating topic and very few debtors ever get told about it, not even when they have attorneys.

You will not find this in any bankruptcy kit or software. Hire us to prepare your documents and we will give you access to this valuable information.

What is the lowdown on student loans? Can they be discharged and if so, how?

In chapter 13 the idea is to pay back the student loan but in some situations, you may be able to get rid of them in a chapter 7. What is the seven year rule and what are the exceptions to it?

Some student loans can be discharged and if you have one, you better find out what your discharge rights are. You will not find this in any bankruptcy kit or software. Hire us to prepare your documents and we will give you access to this valuable information.

Here is The Step-By-Step Process

Step No.1 Order our bankruptcy preparation service.

When you order our services, you are immediately assigned a username and password which you will use to log on to our secure site.

Step No.2 Log on to our secure site.

Log on to our secure site where you will enter your bankruptcy information. You will also find the access point for all of our special offers here. If you have forgotten, they include access to all the know-how information we mentioned above and more.

Remember to click on the "Resource" link after logging in to access all of the fee special offers. They are available to you immediately after you place your order.

Step No.3 Enter your bankruptcy information.

After logging in, enter your bankruptcy information such as the names and addresses of the creditors. You do not have to have all of the information before you get started. You do NOT need a credit report and you do not need to know exactly how much you owe. You can save your information with the click of a button and then continue at another time or day. It is really much easier than you think and can be completed in just minutes.

Step No.4 We prepare the official federal documents for you.

After you have entered your information and are satisfied with it, you tell us that you are done and then we go about preparing the documents for you. After the documents are done, we double check it and then email it to you as an attachment that can be easily opened and printed on your computer. As a backup, we also send you a link from which you can download the finished bankruptcy documents, just in case you are having problems with your email. That goes to show you that we thought about everything to make your bankruptcy the easiest possible.

Step No.5 You sign and file the documents.

When you get the documents from us, you print them on your printer and then sign your name where we have indicated and then file them with the court. If you do not have a printer, you can print the documents simply by opening the email on another computer that has a printer. You can file the documents in person or by mail. We provide you the court address and phone numbers and we tell you exactly what to do.

Step No.6 Attend the hearings.

After filing the documents, you will be given a date to attend the bankruptcy hearing. This date is often the same for the confirmation hearing. Remember, we said that there are two hearings in a chapter 13, the meeting of the creditors and the confirmation hearing. On that day, go to the hearing, and answer the few questions they will ask you. The creditor meeting lasts only a minute or so and it is nothing to be afraid of. The confirmation hearing last a little bit longer. If the court approves the Plan then that is it. If they do not approve the plan, they will make changes to it and then approve it. We will talk in detail about the Plan on the next page. Watch out for it.

One More Thing Repairing your credit

If you order our services within the offer deadline, you will also receive access to the special credit repair information we talked about. This allows you to start the process of removing your bankruptcy from your credit report in months instead of years. It is our gift to you for letting us serve you.

The Plan

Now let us delve more into the Plan. The Plan is a 1 or 2 page document that spells out which creditors you are going to pay back. It is just that simple. It usually contains the following provisions: The additional amount that your attorney will get paid if you you have one, (usually $2,000 to $3,000); the creditors who will get paid; which payment you will make directly to creditors outside of the Plan; which creditors you will pay through the trustee and how long the Plan is going to last.

There is no one set Plan and as we mentioned earlier; there is no official federal bankruptcy form or format for the Plan. Some court have a sample form that they use for the Plan and other do not have any form for you to fill out. Even when there is a local form, there is nothing set in concrete that you have to enter into it. It is like writing an essay in school on what you want to be when you grow up. No two plans are the same. The reason is that you are in control. You get to decide what you put into the plan. If you do not want to pay certain debts through the plan you do not include them in the plan. If you have arrearage on your mortgage and you need time to get caught up you include the arrearage in the Plan. If you have a car payment and you do not want the car any more, you indicate so on the plan. You are in the driver's seat and you get to decide what to propose.

Because there is no such a thing as one plan that fits everybody, we provide you with a plan form that you can fill out as you please. It will be the exact same plan form that is used in your local court. You simply enter the names of the creditors that you want to pay through the plan, the ones that you will pay outside the plan and the ones that you will not pay anything to. The plan is the only form that we do not fill in for you and as such we do not charge you for it. Any plan forms that we give you are given free of charge for your convenience.

Keep in mind that the plan you will give to the court will most likely not be the one that they approve at the confirmation hearing. It almost never is. This is because the secured creditors such as your mortgage get to submit to the court their figures as to what you owe. The judge then has to figure out what the facts are and what the plan should be and that is what they approve. It is important to keep this in mind because you cannot walk into the confirmation hearing, expecting that you will keep your house without paying the mortgage, just because that is what you proposed in the plan. Your plan is only a proposal and no more.

To help you get an idea what to propose, we give you links to actual copies of plans proposed by attorneys in your local bankruptcy court. Your proposed plan does not have to be the same as theirs but it helps to see what others have done.

In all, proposing the 1 or 2 page plan is easy. It is preparing the 45 to 60 or more pages of the petition and schedules that is a nightmare and that is where we come in. The good news is that we charge you only for the petition and schedules and throw in the blank plan forms and samples for free. Usually, even with a paralegal, a chapter 13 service costs $350 and up but not with us.

The Plan is treated by the court as separate from the official federal bankruptcy forms. You are not required to file the Plan when you file your federal bankruptcy forms. All courts allow you at last 15 days after filing the bankruptcy to file the proposed Plan and some allow you up to 30 days. You can file one proposed plan and then modify it. In fact, to underscore what we said about the plan being only a proposal, most plan forms have a space where you indicate if this is the first proposed version or a revised version.

The Trustee

It is not enough to file your bankruptcy documents and the plan and then wait for the confirmation hearing. Chapter 13 bankruptcy law requires that you continue the regular monthly payment that you want to pay directly outside the Plan. The idea is that they do not want you to slip further and further behind on your payments as you wait for the plan to be confirmed. Most chapter 13 trustees insist that you begin to send them the plan payments for their safe keeping even before the plan is confirmed. After filing your bankruptcy, contact the trustee that is assigned to you and have them tell you what they prefer you do prior to the confirmation hearing.

Do Not Procrastinate

Order today and take advantage of our limited time price discounts.

Here they are again:

Special Offer #1: Order our excellent professional bankruptcy preparation services today and we will give you a generous price discount off our already low price. Look for it on the order page.

Special Offer #2: Order our excellent professional bankruptcy preparation services today and we will double our money-back guarantee. Read more about it on the order page.

Special Offer #3: Order our excellent professional bankruptcy preparation services today and we will throw in for free our Plan templates. Read more about it on the order page.

Special Offer #4: Order our excellent professional bankruptcy preparation services today and we will help you get set up for the special bankruptcy removal service we mentioned earlier. Read more about it on the order page.

Special Offer #5: Order our excellent professional bankruptcy preparation services today and we will give you access to the additional bankruptcy information we mentioned above.

... A WHOPPING total value of $495!

You can expect to pay $495 or more elsewhere for the same level of service and the extra bonuses that we offer, but not if we can help it. We will not change you $5,000, or $3000 or even $600 like the attorneys and paralegals, otherwise only a few people will be benefited.

You have waited long enough. Procrastinating one more day will only cost you more in lost opportunities. Order our bankruptcy preparation services today by clicking here and start to rebuild your life.

No Paper Forms To Fuss With.
No Software to Download or Learn.
No Typing and Retyping.
No Spending Weeks Researching.
One Day Service.
Money Back Guarantee.
Discount Pricing.
No Hidden Fees - No Add-ons - No Extras
 

We Do The Work, So...
All You Do With Our Docs is Sign Your Name and File Them

Don't shortchange yourself with software.
You deserve the peace of mind that comes with
Full Service.

Here is our pledge TO YOU:

• We will hold your hand
  and guide you through the entire process.
   
• Contact us as often as you like,
  before, during and after filing.
   
• You will receive the highest quality documents
  guaranteed to accepted by the courts or your money back.

Chapter 13 Orders Only Also remember that we offer special discount pricing. Transaction Security: Payments processed on Secure Server (128-Bit SSL Encrypted) Use this link for Chapter 13 only. Click here for chapter 7.