Chapter 13 Bankruptcy - 18th Edition by Cara O'Neill (Paperback)

About the Book

Chapter 13 bankruptcy works well for higher-income earners who need financial relief and those who don't want to risk losing a home, car, or other important property in Chapter 7. The flexible three- to five-year repayment plan allows filers to use their funds toward more critical obligations, like house and car payments, taxes, and support obligations, while paying less toward credit card balances, medical bills, personal loans, and other dischargeable debts.

Book Synopsis

Stop creditors. Get more time to pay.

Filing for Chapter 13 bankruptcy stops creditors, lawsuits, wage garnishments, bank levies, and other collection actions, giving you time to restructure debts in a three- or five-year repayment plan. Each monthly payment goes primarily toward the debts that matter most--your mortgage, car loan, support obligations, and taxes. Credit card balances, medical accounts, and utility bills usually receive a small fraction of the balance. Chapter 13 filers can also use the plan to avoid foreclosure and vehicle repossession or pay to keep property they'd lose in Chapter 7 over time. Sometimes, they can even reduce or eliminate secured loans.

This guide explains the benefits of Chapter 13 and more, including how to find and hire the right lawyer and calculate the monthly payment. It also covers what to expect during the process, which debts get erased after completing plan payments, how to rebuild credit after the case ends, and more.

Review Quotes

Author Comments: "Living under the weight of financial burden is stressful--but there is a way out. You'll find the easy-to-understand explanations in Chapter 13 bankruptcy will help you decide whether bankruptcy is right for you."

"An excellent book that can guide you through the [Chapter 13] process." Forbes Magazine

"Chapter 13 Bankruptcy will save you a fortune in attorney fees and confusion." The Midwest Book Review

"This is the best book going if you choose to file alone or if you want background on the Chapter 13 process." Attorney Gary Klein, Co-Author of Consumer Bankruptcy Law and Practice

"It explains how Chapter 13 works, the automatic stay, determining eligibility for Chapter 13, the means test, proposing a plan the judge will approve, and making the decision; filing for bankruptcy; common legal issues, carrying out the plan, what to do if the plan cannot be completed, and life after bankruptcy; and hiring and working with a lawyer and doing legal research. This revised edition includes recent changes in bankruptcy law, as well as updated 50-state exemption tables and key Supreme Court decisions." Eithne O'Leyne, Editor, Ringgold, Inc.. ProtoView