Chapter 13
A Chapter 13 bankruptcy allows you to repay your creditors, under a court approved plan, over an extended amount of time.A bankruptcy under Chapter 13 is the ideal option if you are facing a foreclosure and are at risk of losing your home or you don't qualify to file for Chapter 7.
In most cases, the plan will be for three years. However a plan can be approved for up to five years.
Documents Needed
- 2 years tax returns
- 6 months proof of income
If employed - paystubs
If self-employed - profit and loss
If retired - statement showing benefits
If unemployted - statement showing benefits - 401K/retirement - statement for each
- Value of home - appraisal or brokers price opinion or comparative market analysis
- Bank - statement for each account
- Car registration - if married
- Bills including car loan statement and mortgage
- Life insurance policy - statement not needed if policy is through employer
- Divorce agreement, if divorced
- Homeowners insurance declaration page
- Auto insurance declaration page