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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5.0/5.0Starting the process of bankruptcy can seem scary. However, working with Jeff Field & Associates made it very easy. They explained everything so clearly and helped my spouse and I, walk through every step of the process. Definitely recommend!
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5.0/5.0
I highly recommend them the did a great job with my case and made the steps very easy they worked with me every step of the way on completing all my paperwork highly recommended them
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5.0/5.0
A few months ago, I had to file for bankruptcy, and this team made the whole process so smooth. They answered every single question I had and walked me through everything step by step. Honestly, all I had to do was sit back and let them handle it; Th...
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5.0/5.0
An exceptional bankruptcy attorney—professional, compassionate, and highly knowledgeable. They guided me through every step with clarity and confidence, easing my stress. I truly felt supported and well-represented. Highly recommend their services ...
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5.0/5.0
I was referred to Jeff Field by a co worker my experience with them was effortless after initial contact everything else flowed well. I was able to ask questions, and received answers immediately. Everything was done by email and over the phone very ...
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