There are financial, credit record, risk, and emotional disadvantages to a 5-year Chapter 13 case that you might avoid through smart timing. Our last two blog posts were about how the last 6 calendar months of income of a person filing a Chapter 13 case can determine whether his or her Chapter 13 payment plan lasts only 3 years … Read More
If you definitely need a Chapter 13 case, which month you file it can make the difference between your payment plan lasting 3 years or 5. In two blog posts last month (November 12 and 19) we showed how filing bankruptcy by the end of December 31 might allow you to file a Chapter 7 “straight bankruptcy” case instead … Read More
Although a Chapter 13 case lasts so much longer than a Chapter 7 one, it often has huge advantages. But you have to complete it successfully. Once your Chapter 13 payment plan gets approved at the “confirmation hearing,” your case is on its way. Now you have to comply with that plan to get the advantages that Chapter … Read More
Smart timing of your Chapter 13 “adjustment of debts” case can sometimes allow you to finish your payment plan faster and save lots of money. Chapter 7 vs. Chapter 13 Two days ago we showed the importance of timing in the filing of a Chapter 7 case. The timing can affect whether you can qualify to be in a … Read More
If a creditor’s proof of claim is too large, you may need to object to it to avoid dismissal of your Chapter 13 case.