If you are struggling with debt in Tempe and earn enough money to pay your creditors over time, you may consider filing for Chapter 13 bankruptcy. But do you qualify for Chapter 13? Most people who do not pass the Chapter 7 means test do qualify for Chapter 13.
At the Arizona Law Group of Trezza & Associates, we can advise you on whether you qualify for Chapter 13 bankruptcy. Contact us to set up a consultation with an experienced Tempe Chapter 13 bankruptcy lawyer.
Chapter 13 Lawyer in Tempe
An experienced Arizona bankruptcy lawyer can help you learn if you qualify for Chapter 13 bankruptcy, and if it is a suitable option for achieving your debt relief goals.
In order to qualify for Chapter 13, you must earn a steady income and be able to adhere to a three-to-five-year debt payment plan in which you will pay off all or a portion of your debt. Other requirements for qualifying for Chapter 13 bankruptcy include:
- You are not barred due to a previous bankruptcy
- You have not had a bankruptcy case dismissed within the last 180 days
- You must fulfill the credit counseling requirement
- Your debts are not too high (not more than $336,900 in unsecured debt, $1,010,650 in secured debt)
There are many complicated factors to consider in regard to qualifying for Chapter 13 bankruptcy. An experienced Tempe bankruptcy lawyer can make the picture much clearer and make bankruptcy law work for you.
Chapter 13 and the Means Test
Taking the means test will determine how much disposable income you have to pay your creditors. As little as 50 dollars of disposable income can make the difference between qualifying for Chapter 7 and qualifying for Chapter 13. For that reason, it is critical to have an attorney assist you to ensure that everything is accurate and nothing is overlooked.
Contact a Chapter 13 Tempe Attorney Today
You will find a great deal of valuable information on this website. However, your situation is unique. When you are ready to discuss your case specifically, do not hesitate to contact us to speak with a Tempe Chapter 13 bankruptcy attorney.
