Boston Bankruptcy Lawyers

The Chapter 13 Bankruptcy Process

The Chapter 13 bankruptcy process requires a number of steps in order to be successful.

Credit Counseling

Before a person files for bankruptcy, he or she must receive credit counseling from an approved agency. Credit agencies are approved by the United States Trustee’s Office. Via their website, a person can obtain an approved list of credit counseling agencies.

There may be a fee for the credit counseling services that are performed for the debtor. This, however, is completely legal. The agency must provide counseling for free or at a reduced rate if the debtor cannot afford to pay the full price of counseling.

Filing for Chapter 13 Bankruptcy

After the credit counseling process is completed, the debtor is free to file for Chapter 13 bankruptcy. When filing, the debtor will be required to pay the filing fee and file numerous forms. Once the filing is complete, the judge will review everything and assign a trustee.

The trustee will be responsible for dispensing the monthly or biweekly payments to the creditors as laid out in the repayment plan.

The payments will need to continue until the end of either the five years or the seven years. This process, while it may seem hard and extremely long, will allow a person to get his or her life back on track and debt-free. The debts will be paid back and the debtor can begin rebuilding his or her credit score.

Contact a Bankruptcy Lawyer in Boston

If you are considering filing for bankruptcy, contact the Boston bankruptcy lawyers of Joshua Spirn & Associates at 1-800-975-5346 to discuss your case today.