Dec 3, 2014

Posted by Shanell Calloway in Uncategorized | Comments Off on Examining Chapter 13 Requirements For Your County

Examining Chapter 13 Requirements For Your County

Kansas consumers who choose to file a chapter thirteen claim must meet specific requirements. This includes income restrictions, which may otherwise prevent them from filing. If you wish to review the requirements for Chapter 13 in Topeka KS today, you can Visit the website to acquire more information.

The Vital Steps for Chapter 13

The first step you must take before you can file for chapter 13 to prove your eligibility. This requires you to submit detailed information about all income sources. If you receive child support or alimony from a previous spouse, you must provide receipts that show all balances for the last six months. Any consumer with an income level that is below $40,988 doesn’t qualify for this chapter.

After you prove your eligibility, you must attend a credit-counseling course as outlined by Kansas state laws and federal laws applicable to bankruptcy claims. You should consult your attorney when you sign up to ensure that it is a state-approved option. It is necessary for you to provide a certificate of completion to your attorney. All costs associated with this course are your responsibility.

Your Repayment Plan

After reviewing your income and debts, your attorney devises a repayment plan for this chapter. Although your household expenses are included, the plan must follow a model generated for this option. It requires you to pay a monthly value based on your income level minus basic expenses and other obligations. Any failure to comply with this plan once it is approved by the court results in a discharge.

You are further required to utilize all expendable income you acquire each month to settle debts outside of your claim. You are ordered to submit receipts to the court to show compliance with this requirement. At any time, you receive a raise, you must report it to the bankruptcy court promptly.

Bankruptcy provides a permanent solution for most consumers who are seriously in debt. It could also prevent a significant financial loss associated with their primary home. If Chapter 13 in Topeka KS could provide you with sufficient relief, you should contact your attorney to schedule an appointment.

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