December 12, 2012 (Press-News.org) Behind on your bills? Have a job? Chapter 13 may be for you
With the sluggish economy, many Americans are finding that it is hard to keep current on their bills. As a result, many who are employed turn to bankruptcy for relief from their tough financial situation. For many people in such circumstances, Chapter 13 bankruptcy may be the right solution.
What is Chapter 13?
Chapter 13 bankruptcy, also known as a wage earner's plan, allows debtors with regular income to design a plan to repay all or part of their debts. Under Chapter 13, debtors propose a repayment plan to make regular installment payment over three to five years. Since the repayment of the debt is stretched out over a longer period of time, it can make paying back the debt easier and more affordable.
Advantages over Chapter 7
Unlike Chapter 7 bankruptcy, which requires debtors to give up their non-exempt property in exchange for a discharge of most of the debts, Chapter 13 does not require any property to be handed over. In addition to this, Chapter 13 allows debtors to:
-Save their homes from foreclosure by stopping foreclosure proceedings and repaying delinquent mortgage payments over time
-Lower the payments of other secured debts by extending the payments over the length of the repayment plan
-Stop interest from accruing on credit cards and personal loans
Eligibility for Chapter 13
All individuals with unsecured debts less than $360,475 and secured debts less than $1,081,400 are eligible for Chapter 13 relief. Unsecured debts are debts where the creditor does not have the right to take your property if you fail to repay the debt--such as credit card charges. Secured debt, on the other hand, is where the creditor "secures" the loaning of money by the right to repossess property if the loan is not paid--such as a car loan or mortgage.
In addition, all debtors wishing to file for Chapter 13 must meet certain income requirements. If your income is not high enough, or regular enough, you may be rejected for Chapter 13, because of your inability to make regular payments under the payment plan.
Consult an attorney
Bankruptcy is not for everyone who is facing financial hardship. Depending on your situation, Chapter 13 may or may not be the best bankruptcy choice. As the law surrounding bankruptcy is very complicated and full of exceptions, it is important to seek out the advice of an experienced bankruptcy attorney. An attorney can fully assess your debts and overall financial situation and help determine what debt-relief approach is best for you.
Article provided by Thrush & Rohr LLC
Visit us at http://www.thrushandrohr.com
Behind On Your Bills? Have A Job? Chapter 13 May Be For You
With the sluggish economy, many Americans are finding that it is hard to keep current on their bills. Many who are employed may turn to bankruptcy for relief from their tough financial situation.
2012-12-12
ELSE PRESS RELEASES FROM THIS DATE:
The Gibney Family Foundation and the First Nonprofit Foundation Award Grants to VisionServe Alliance of St. Louis, Missouri
2012-12-12
The Gibney Family Foundation of South Burlington, Vermont, and First Nonprofit Foundation of Chicago, Illinois, jointly awarded grants to VisionServe Alliance of St. Louis, Missouri, to expand the vision rehabilitation workforce and help provide life-changing services to people who are blind or visually impaired.
"We are deeply grateful to The Gibney Family Foundation for its generous grant of $75,000 over three years and First Nonprofit Foundation for its challenge grant of $25, 000," said Roxann Mayros, President and CEO of VisionServe Alliance.
"These ...
Tarheels Stick With What Works, Choosing Revize as the Website Vendor for the City Of Reidsville
2012-12-12
As internet presence becomes perhaps the most important facet of the overall communications strategy of many organizations, Revize is proud to be an industry leader in website development - particularly in the government/municipal arena. In fact, Revize's newest clients include cities of all sizes and from every corner of the country: City of Riverton, WY; City of Springdale, AR; City of Virginia, MN; City of Kimball, NE; and Bruce Township, MI.
"Choosing Revize is always a great decision," said Christy Higgins, Sales Executive for Revize. "We are proud ...
Solamon Appoints SVP for India; set to Tackle Tamil Nadu Immediately
2012-12-12
Effective immediately, Mr Thomas will work with SVP Thijs Boonen and Yeo to continue the development of the Apollo Acre across India and specifically Tamil Nadu. "We welcome Mr Thomas and his understanding of both the culture and language across South Asia and brings a deep pool of knowledge with him that we are only starting to wrap our heads around," says Yeo.
"It has taken over a year to determine whether or not we are on the right path in Sri Lanka, and according to Mr Boonen we are," Yeo explains. "So, together with Mr Boonen, he will enter ...
Novo Nordisk VP to Speak at Cytokines Conference Jan 31, 2013 in San Diego, CA
2012-12-12
Ian Ahnfelt-Ronne, Corporate Vice President at Novo Nordisk A/S will give a featured presentation on "Potential Role of IL-20 in the Pathogenesis of Rheumatoid Arthritis" at the 11th Cytokines and Inflammation Conference to be held in San Diego, CA on January 31 - February 1, 2013 by GTC.
NNC0109-0012 (a novel, recombinant human monoclonal IgG4 anti-IL-20 antibody) is currently being investigated in patients with Rheumatoid Arthritis [RA]. NNC0109-0012 binds to human IL-20 with high affinity, and neutralizes the activity of IL-20 in cell-based assays. NNC0109-0012. ...
McCurley Orsinger McCurley Nelson & Downing Adds Dallas Associate
2012-12-12
The Family Law firm of McCurley Orsinger McCurley Nelson & Downing, L.L.P., is pleased to welcome Holly Eckert as an associate in the firm's Dallas office.
"Holly is an exceptionally talented attorney whose expertise in Family Law matters will benefit our clients and our firm," says McCurley Orsinger McCurley Nelson & Downing founding partner Mike McCurley. "We are very happy she is joining our team."
Ms. Eckert's practice is focused on providing efficient, effective counsel on issues involving divorce, complex property division, modification ...
Mountain Ridge Chiropractic: Leading the Way Towards Better Health and Stronger Communities!
2012-12-12
Dr. Christopher B. Fierro, Chiropractic Physician and Clinton's one and only CBP - trained Chiropractor, announces the launch of his new chiropractic office, Mountain Ridge Chiropractic. The office will feature 'Whole Family Wellness' services and products, including, structural-based corrective chiropractic care, essential nutrient supplementation by Innate Choice, 100% custom-made Foot Levelers Orthotics utilizing the only 3D foot scanner in the area, ChiroFlow water-based pillows, and TRX Suspension and Rip trainers. Come 2013 he plans to roll out his fat-loss and weight-management ...
"Lights. Camera. Cure. The Hollywood Dance-a-Thon" Announces Co-Hosts for Second Annual Benefit Event
2012-12-12
"Lights. Camera. Cure. - The Hollywood Dance-a-THON" is a high-energy benefit for The Four Diamonds Fund and their fight against pediatric cancer. Last year, the event raised $37,411 for The Four Diamonds Fund, which funds innovative research on childhood cancers. In it's second year, the event is looking to increase attendance, donations, and awareness of the cause. This spirited, music-filled dance party, to be held January 27, 2013 at the Avalon Hollywood from 2pm- 8pm, will be done once again in true Hollywood style, with celebrities and VIP's on the red carpet, ...
AeroCompTM by USAIG - An All-New Aviation-Specific Workers' Compensation Program
2012-12-12
On January 1, 2013, USAIG will roll out a new, full-featured workers' compensation insurance package - AeroComp by USAIG - designed specifically to address the needs of aviation operators, including both commercial and business operations. USAIG is a leading provider of insurance to the aviation and aerospace industries.
"This new program leverages our 80-plus years of expertise as an insurance underwriter focused exclusively on aviation, as well as 37 years of experience providing industry-leading and well-known aviation workers' compensation programs that have ...
Espronceda Law Moving to a New Location
2012-12-12
Espronceda Law offers legal services in family, business, and criminal law. We are thrilled to announce our move to a new location, effective January 1, 2013. In order to better serve clients, we are now conveniently located on the eighth floor of the Lincoln Center Building. The newly remodeled offices are found at 7800 I.H. 10 West, Suite 800, San Antonio, TX, 78230. We are within minutes of downtown, with easy on and off access to both I-10 and route 410.
Founding member, Jennifer Espronceda, is a respected attorney, noted for her focus on client needs and her dedication ...
Caregiver Training Can Solve Top Deficiencies in Assisted Living
2012-12-12
Assisted living facilities nationwide are not only struggling to meet state compliance regulations, but are sometimes even sliding backward in their efforts when comparing year-over-year data on common regulatory citations, a recent assessment by the Assisted Living Federation of America shows.
What is most surprising about the findings in ALFA's Top 10 Deficiencies 2012 report is that many of the deficiencies cited could have been solved through proper staff training, including the most common one: medication administration. States issue compliance deficiency citations ...
LAST 30 PRESS RELEASES:
TTUHSC’s Logsdon receives grant to study vascular side of traumatic brain injuries
Pusan National University researchers develop game-changing method to create safer, long-lasting lithium-ion batteries
Scientists uncover key to stable, high-performance, and long-life sodium-ion batteries
Age and gender influence food preferences and dietary patterns
Man’s best friend could be the spotted lanternfly’s worst enemy
Human eggs power down to protect themselves
NIST releases trove of genetic data to spur cancer research
Adults with heart-healthy metrics had better health from head to toe
Your lungs in chip form
Optimal heart health in children cuts risk of chronic diseases in adulthood
What makes debris flows dangerous
Uranium-based catalyst turns air nitrogen into ammonia
How the brain turns our intended words into the sounds of speech
Light reveals secrets encoded in chiral metasurfaces
Protecting childhood mental health after preterm birth: key factors identified
An aggressive childhood cancer case opens new avenues for advanced cell therapies
Amino acids play a key role in how cells respond to drugs
Deafness and loneliness pave the way for dementia
Food preferences, stigma among reasons students don’t eat free school meals
Depression often associated with early menopause: Why some women are at greater risk
Universal method unlocks entropy calculation for liquids
Induction effect of fluorine-grafted polymer-based electrolytes for high-performance lithium metal batteries
Intensity of opioid use appears to be higher in fentanyl era
'Adventurous’ vs ‘homebody’ anemonefish – research reveals key influences in diversification and evolution
Only Amazon MTurk’s ‘master’ workers provide reliable research data quality
Scientists find the first ice core from the European Alps that dates back to the last Ice Age
Yoga, Tai Chi, walking and jogging may be best forms of exercise for insomnia
Medical tourism for bariatric/weight reduction surgery needs urgent regulation
Funding for lifesaving global health programs forecasted to reach 15-year low, threatening to reverse decades of progress
Exercise could ease symptoms for people with Chronic Lymphocytic Leukemia, but support and adequate guidance is lacking
[Press-News.org] Behind On Your Bills? Have A Job? Chapter 13 May Be For YouWith the sluggish economy, many Americans are finding that it is hard to keep current on their bills. Many who are employed may turn to bankruptcy for relief from their tough financial situation.