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Chapter 13 Bankruptcy

Chapter 13 Bankruptcy FAQs

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Documents for filing bankruptcy Chapter 13

Chapter 13 bankruptcy is one option for people who need more time to pay their debts and have struggled to make regular payments. 

The bankruptcy attorney at Groce & DeArmon, P.C., can help you file for Chapter 13 bankruptcy and deal with the legal and financial issues arising from this type of bankruptcy.

We answer frequently asked questions about Chapter 13 bankruptcy in today’s blog.

What is Chapter 13 bankruptcy?

Also called the wage earner’s plan, Chapter 13 bankruptcy allows individuals with a steady income to repay all or part of their debts.

How does Chapter 13 bankruptcy work?

Debtors work with creditors to repay debts using monthly installment payments. Debts are consolidated into one payment through one source.

How long does Chapter 13 bankruptcy last?

The repayment period lasts three to five years, depending on your situation.

Who do I make payments to for Chapter 13 bankruptcy?

The bankruptcy trustee, who is appointed by the bankruptcy court to oversee your case. Once you pay the trustee, that person then forwards payments to your creditors.

What happens when you file for Chapter 13 bankruptcy?

Chapter 13 bankruptcy has several steps:

  1. Filing a petition with the bankruptcy court. Bankruptcy is a federal matter, so you will need to file with the bankruptcy court serving your particular area.
  2. You must file other papers with the bankruptcy court, including a list of assets and liabilities currently in your possession, income, and expenses along with when you receive them and when payments are due, any leases or rental agreements, and a statement of your current financial affairs. Other papers are evidence of payment from employers over the past 60 days, proof you underwent credit counseling, a list of creditors, and your most recent tax return.
  3.  Between 21 to 50 days after filing for Chapter 13 bankruptcy, the trustee holds a meeting of creditors. You must attend this meeting and answer any questions about your repayment plan. 
  4. After the meeting of creditors, you will attend a hearing with the trustee and the judge in your case to discuss and verify your repayment plan.
  5. You must start making payments to the trustee as early as 30 days after filing for Chapter 13 bankruptcy, not when the bankruptcy is finalized.

How long does the process of filing for Chapter 13 bankruptcy take?

Cases finalize anywhere from 60 to 90 days. 

You must start making payments 30 days after filing.

Your payment plan lasts anywhere from three to five years.

Who qualifies for Chapter 13 bankruptcy?

Any individual (not a company or corporation), even if you operate an unincorporated business or are self-employed, can file for Chapter 13 bankruptcy protection so long as your unsecured debts are less than $294,725 and your secured debts are less than $1,184,200.

Do I need an attorney to file Chapter 13 bankruptcy?

The U.S. Court system strongly recommends hiring a licensed attorney to help you with your case.

How much does filing for Chapter 13 bankruptcy cost?

Filing fees are $310, which you can pay in installments with the court’s approval. Attorney fees vary from state to state, and they may change depending on the complexity of your case. Check with your attorney if the firm can make a payment plan.

Can an attorney help me with Chapter 13 bankruptcy?

Yes, an attorney can help you file Chapter 13 bankruptcy in federal court. Contact the dedicated bankruptcy attorney at Groce & DeArmon, P.C., or call us at 1-800-640-3706 in Missouri or (417) 862-3706 for a free initial consultation. We’ll discuss whether or not this type of bankruptcy is right for you and give you options for your financial future.

How to Afford Your Home Mortgage With Bankruptcy Protection

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Groce & DeArmon Bankruptcy Home Mortgage

Filing for Chapter 13 bankruptcy protection provides an automatic stay against your creditors. Once they receive notice you filed for bankruptcy, they must stop all collection proceedings against you, including foreclosing on your home. Then it’s up to you and the court to come up with a repayment plan under Chapter 13. The bankruptcy attorneys at Groce & DeArmon, P.C., explain how you can afford your home mortgage under bankruptcy protection.

Related Post: Chapter 13 Bankruptcy: What Income Is Exempt?

Lower Debt Loads Based on Collateral

One way to afford to make your mortgage payments in a Chapter 13 bankruptcy protection payment plan is to ask the court to reduce the debt loads based on collateral. 

For example, you purchased your car for $20,000 two years ago. You still owe $12,000 on it, but the vehicle is now worth $8,000. You could petition the court to reduce the debt on your car to $8,000, or what it’s currently worth. Lower debts and lower payments create a lower amount to pay each month during your repayment plan, thereby allowing you for more flexibility when it comes to paying your mortgage.

Pay a Fraction of Unsecured Debts

Some unsecured debts can make payment arrangements with you when you’re under bankruptcy protection. Negotiate with your lenders to make these payments and the payoff amount as low as possible. You could very well pay off a large portion of your unsecured debts before you come out of the Chapter 13 bankruptcy payment plan. Freeing yourself of these debts makes mortgage payments more manageable.

Get Rid of Fees

Your mortgage company keeps track of the arrears you owe when you couldn’t make payments, including any fees for late or delinquent payments. You may petition the court to waive any fees imposed by your mortgage company. It also helps if you talk to your mortgage company and negotiate with them. They could lower the amount of money you owe for arrears when you’re under Chapter 13 bankruptcy protection. 

Remember One Thing

Filing for Chapter 13 bankruptcy protection is scary. However, you need to remember that your creditors want you to make payments. You can negotiate with them ahead of making a payment plan. 

Many creditors will be satisfied with reduced mortgage payments if you are in bankruptcy protection. This is because it is more profitable for the lender to accept reduced payments rather than trying to foreclose and sell your home. An experienced Chapter 13 bankruptcy attorney may be able to help you negotiate reduced mortgage payments so you can stay in your home.

Related Post: Groce and DeArmon Explains: Life After Chapter 13 Bankruptcy

Call Groce & DeArmon P.C. About Chapter 13 Bankruptcy Protection

Have questions about affording your mortgage payments during Chapter 13 bankruptcy protection? Groce & DeArmon has answers. Contact Groce & DeArmon, P.C., or call toll-free 1-800-640-3706 in Missouri or 417-862-3706 for more details or a free consultation.

Chapter 13 Bankruptcy: What Income Is Exempt?

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Legal Negotiation for Bankruptcy

When you are in serious debt and you have missed payments to your creditors, they will try to foreclose on your property, garnish your wages, and even file lawsuits to force you to repay your debts. Chapter 13 Bankruptcy can stop this process in its tracks and protect some of your assets and income. Certain types of income are considered to be exempt from creditors, or “Judgement Proof.” What income is tax exempt? Read on to find out in today’s blog from Groce and DeArmon.

What Does Exempt Income Mean?

Exempt income is a term that describes income that cannot be targeted by creditors. This means that the person’s income and assets are exempt from foreclosure, repossession, garnishment, or lawsuit. There are certain types of income that are totally exempt, and they are important to understand.

There are Federal Exemption guidelines as well as State Exemption guidelines, and your bankruptcy attorney can help you understand the unique details of your particular case. It can get complicated, but there are certain types of income that are always (or almost always) exempt from creditors.

Related Post: Bankruptcy Exemptions in Missouri

What Types of Income Are Exempt From Creditors?

There are many types of income that are considered exempt from creditors, but the details are important. If you have one or more of the following income sources, they will likely be protected from creditors.

  • Social Security Benefits
  • Supplemental Security Income
  • Child Support Income
  • Public Assistance Benefits
  • Unemployment Benefits
  • Veteran’s Benefits
  • Federal Employee and Civil Service Retirement Benefits

Related Post: What to Know About Bankruptcy and Retirement

Groce and DeArmon Is Here to Help

If you are concerned about creditors and debt, bankruptcy may be a valuable tool to help you regain your financial security. If you have exempt income sources, you may be able to benefit even more from bankruptcy, however, you should consult with an experienced bankruptcy attorney before you move forward. Whether you want to proceed with Chapter 7 Bankruptcy or Chapter 13 Bankruptcy, the team at Groce and DeArmon is here to help. Contact us today to learn more.

The Difference Between Chapter 7 and Chapter 13 Bankruptcy

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Bankruptcy law book with gavel on topFiling for bankruptcy is an important decision that should not be taken lightly, and a very important part of the filing is deciding which type of bankruptcy is best for your situation. The two most common types of bankruptcy are Chapter 7 and Chapter 13, both of which work in slightly different ways. To help you decide which type of bankruptcy may be best for you, Groce & DeArmon is here today to talk about the differences between Chapter 7 and Chapter 13. 

Chapter 7 Bankruptcy

Chapter 7 bankruptcy is a type of liquidation bankruptcy that is meant to leave you with a “clean slate.” People who file for Chapter 7 bankruptcy typically need a fresh start and have little to no debts. In this case, the court will appoint an attorney to oversee the case which will be discharged within a short period of time. 

Chapter 13 Bankruptcy

Chapter 13 bankruptcy is also known as the Wage Earner’s Plan. This type of bankruptcy typically allows debtors who have a consistent income to keep their home and other assets and allows them to make payments over a period of 3 to 5 years.

The Differences

The Automatic Stay

Whether you file for Chapter 7 or Chapter 13 bankruptcy, the automatic stay will go into effect. This motion stops any creditors from collecting debts against you for a certain period of time. The difference is that in Chapter 7 bankruptcy, the automatic stay will only last up to about three months; in Chapter 13 bankruptcy the automatic stay can potentially last for years. 

Related Post: Bankruptcy Attorney Discusses the Automatic Stay

Time Frame

Chapter 7 bankruptcy will typically last only three to four months before the case is discharged. This means that debtors can get back on their feet faster than if they filed for Chapter 13. In Chapter 13, the case is typically not discharged until all payments have been made with the help of a payment plan. This can last anywhere from 3 to 5 years. 

Eligibility

In order to file for either type of bankruptcy, you must meet eligibility requirements. For Chapter 7 bankruptcy, you must pass the Chapter 7 means test which determines if your income is less than the median income in the state of Missouri. If it is greater than the median, you may file for Chapter 13. For Chapter 13 bankruptcy, debtors may not have more than a specific amount of debt to file. 

What Happens to Property

In Chapter 7 bankruptcy, all of the debtor’s nonexempt property may be sold in order to pay back creditors. On the other hand, in Chapter 13 debtors can keep all of their property but must pay back their creditors an amount equal to the value of their nonexempt assets. 

Related Post: What Happens to My House If I File Bankruptcy?

Filing for Bankruptcy With Groce & Dearmon

While these are only some of the differences between Chapter 7 and Chapter 13 bankruptcy, it is important to fully understand the process before taking on a bankruptcy case with an experienced attorney. At Groce & DeArmon, our bankruptcy attorney has over 30 years of experience with both Chapter 7 and Chapter 13 cases in Springfield, MO. To get started, schedule a free consultation or call us at 417-862-3706 for more information.

 

Groce and DeArmon Explain: The Chapter 13 Bankruptcy Repayment Plan

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Chapter 13 bankruptcy repayment calendar

If you have filed for or are thinking about filing for Chapter 13 bankruptcy, it’s important to understand how a repayment plan can help you find a clear path to getting out of debt. In today’s blog, Groce & DeArmon, P.C. explain what you need to know about the Chapter 13 bankruptcy repayment plan, and how their team of bankruptcy lawyers can help.

The Chapter 13 Repayment Plan

The Chapter 13 repayment plan is a legal document filed in bankruptcy court that will determine how you will pay back your creditors. It must be filed within 14 days of filing for bankruptcy, and after that, the judge and creditors have the chance to assess or challenge the plan. If the court approves your plan, then you are able to pay back the eligible debts you owe.

When creating a repayment plan, it is possible to do it yourself. However, the process is complicated and very detailed, so it’s best to work with your bankruptcy lawyer who can help hammer out all of the small details.

Categories of Debt

In a Chapter 13 repayment plan, your debts will most often be divided up into three different categories depending on what type of debt is being repaid.

Priority Debts

These debts must be paid off during your repayment plan, unless they are given specific exceptions. Priority debts include taxes owed, bankruptcy costs, and child support payments.

Secured Debts

These debts include secured loans backed by collateral such as a mortgage or auto loan. You may be required to pay back the collateral or pay the debt in full depending on the details of the loan.

Unsecured Debts

These are debts from credit cards, unsecured personal loans, and medical bills. Since these debts have the last priority in a repayment plan, they may not be completely paid off by the end of the plan. In this case, these debts may be discharged.

The Chapter 13 Means Test

The Chapter 13 means test will ultimately determine the structure of your repayment plan using two forms. Form 122C-1 will determine your monthly income and the length of repayment, and Form 122C-2 will determine how much of your disposable income you can use to pay back creditors. When taking the Chapter 13 means test, it is important to use accurate numbers and consult with your bankruptcy lawyer to avoid problems with the courts.

The Importance of Following the Repayment Plan

After your repayment plan is approved, you will be appointed a bankruptcy trustee who will aid you with payments on the approved schedule. It is important to closely follow the determined payment schedule because missing or stopping payment could result in a dismissed bankruptcy case. A dismissed case will ultimately cancel Chapter 13 bankruptcy, causing you to start over or convert to a Chapter 7 bankruptcy case.

A good way to keep current with your repayment plan is to use autopay or a payroll deduction to ensure they are turned in on time and in the right amount.

Chapter 13 Bankruptcy Help at Groce & DeArmon, P.C.

If you have filed for or are thinking about filing for Chapter 13 bankruptcy, keep in mind the benefits and the process of the Chapter 13 repayment plan. The trusted bankruptcy lawyers at Groce & DeArmon, P.C. can help with bankruptcy resources and repayment plan assistance. Visit us online or call us at (417) 862-3706 today!

Related Post: How to File For Chapter 13 Bankruptcy

Groce and DeArmon Explains: Life After Chapter 13 Bankruptcy

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The reasons to file for chapter 13 bankruptcy can be very situational. Chapter 13 bankruptcy, also known as “Wage Earner’s Bankruptcy,” enables individuals to restructure their payments within a three to five year period while keeping their assets. Unlike other bankruptcies, chapter 13 provides a plan to repay all or a significant portion of the debt.

So, what comes next? What can you expect in the future? You will likely have many questions about life after chapter 13 bankruptcy. Today, Groce and DeArmon help to answer some of these important questions to make your situation easier.

Rebuilding Your Credit

If you are filing for bankruptcy, it is likely that you have dealt with debt issues which affected your credit score. A first step in the rebuilding process should be applying for a secured credit card. In order to use the card, you need to deposit money to ensure initial payment. Secured cards are a great way to rebuild credit and become more spending-conscious while also being transparent with the credit issuer.

Groce and DeArmon Quick Tip: It can often be difficult to get approval for an unsecured credit card after bankruptcy. Start with a secured credit card and improve your credit score!

Staying Up to Date on Reports

It will be beneficial to stay up to date on your financial reports during the next three to five years. There can be mistakes hidden in credit reports that may go unnoticed without a careful eye. Life after chapter 13 bankruptcy needs to be very organized and cautious. By reviewing monthly credit reports, you can see what your spending habits are and determine what actions you should take to prevent overindulgence in unwanted categories.

Budgeting

You will need to limit some areas in your spending in order to prevent future problems. Make a detailed budget that shows your priorities and stick to this budget. If you are filing chapter 13 bankruptcy due to medical expenses, a job loss, or for other reasons, make sure to prioritize spending in areas that are necessary for daily life in your situation. Budget in an emergency fund just in case a situation arises without warning. Often times, not being prepared for an emergency can be the tipping point back into debt.

Seek Professional Help from Groce & DeArmon

Groce and DeArmon offers resources to help individuals post-bankruptcy. We are able to provide advice for how to recover from chapter 13 bankruptcy, and we have specialists that can answer your questions. We wish you the best in your financial journey, and we want to assist you to the best of our abilities. Contact Groce and DeArmon, P.C. to talk to a bankruptcy attorney or visit our website to learn more about the services we offer.  

Related Post: How To File For Chapter 13 Bankruptcy

Four Reasons Why You Should Choose Chapter 13 Bankruptcy

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Two people spending money online

While nobody wants to file for bankruptcy, it is often the best way to get on your feet financially and get out from under your debts. However, to take full advantage of your bankruptcy filing and get out ahead of your debts, you’ll have to manage them correctly and utilize the right processes. When it comes to a bankruptcy filing, the ultimate goal is to get out of debt without losing assets or having to foreclose. In that respect, chapter 13 bankruptcy gives you the best chance of success. In today’s blog from Groce & DeArmon, P.C., we offer four reasons why you should choose chapter 13 bankruptcy.

1. You Will Have More Time To Pay Off Your Debts

The thing that makes chapter 13 bankruptcy different from chapter 7 bankruptcy and other filing options is that it establishes a payment plan. If you are struggling to stay caught up on your payments, whether they be on your car or your home, chapter 13 bankruptcy will give you more time to pay off those debts through this payment plan. And in the meantime, you will receive the protection of an automatic stay, halting all efforts from creditors to collect money from you.

2. Chapter 13 Bankruptcy Helps You Keep Your Assets

As stated earlier, the ultimate goal of anybody seeking the relief of bankruptcy should be to do so without losing assets. This isn’t always possible, but the goal should be to catch up on your debt without losing your home or vehicles. With chapter 13 bankruptcy, the discharge of your debt comes through a payment plan and not the seizing of assets, so at least while you are under the umbrella of chapter 13, most of your assets should be secure.

3. Chapter 13 Protects Co-Debtors

A common fear for businesses when filing for bankruptcy is the effect it will have on investors. As individuals, that same fear can be present for co-debtors. In most cases, a codebtor comes in the form of a cosigner, usually on a loan for a home or vehicle. Cosigners do this at their own risk, knowing that the debt can fall back on them. However, as a borrower, you don’t want your co-debtors to be pulled into your bankruptcy. With chapter 13 bankruptcy, creditors will stay away from any co-debtors or cosigners as long as you are making your payments.

4. You Can Catch Up On Your Mortgage or Car

In many cases, debt piles up in the form of a mortgage or car payment. Chapter 13 bankruptcy is a good way to help you catch up on those payments while also lessening the risk of repossession or foreclosure.

Contact Groce & DeArmon, P.C. For More Information Or Tips

Bankruptcy is stressful, but it can be even worse if you don’t utilize the right processes. For more information or advice on chapter 13 bankruptcy, give Groce & DeArmon, P.C. a call at (417) 862-3706 or contact us online for more information today.

Related Post: How To File For Chapter 13 Bankruptcy

Here Is How To File For Chapter 13 Bankruptcy

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Woman discussing her bankruptcy filing with a financial advisor

Last week, the Groce & DeArmon, P.C. blog looked at the filing process for Chapter 7 bankruptcy. Filing for any form of bankruptcy is stressful and time-consuming, but it is important to file for the right one and to do so swiftly to get the best results. Today, the Groce & DeArmon, P.C. blog discusses the other common form of bankruptcy: Chapter 13 bankruptcy. We will look at the qualifications for Chapter 13 bankruptcy and what the filing process looks like.

Is Chapter 13 Bankruptcy Right For You?

If Chapter 7 bankruptcy is the most common form of bankruptcy, then Chapter 13 is a close second. The biggest difference between Chapter 7 and Chapter 13 bankruptcy is how the debt is discharged. With Chapter 7 entails the prompt liquidation of assets, while with Chapter 13 bankruptcy entails a strict payment plan. Chapter 13 is beneficial because allows a person to keep their home and car, whereas Chapter 7 would likely force a person to liquidate those assets.

Do You Qualify?

Because Chapter 13 bankruptcy is usually preferable to Chapter 7, it also has a more rigorous qualification process. To qualify for Chapter 13, the debtor must have a regular income and have gone without a Chapter 13 filing for at least two years and a Chapter 7 filing for at least four years. Another important part of the Chapter 13 bankruptcy qualification process is your tax history. To qualify for Chapter 13, you must be up to date on your tax filings.

How Do I File?

The filing process for Chapter 13 bankruptcy is not all that different from that of Chapter 7 bankruptcy. As with Chapter 7, Chapter 13 begins with credit counseling, which is slightly different because this counselor may also help you develop your repayment plan. Then, just like with Chapter 7, the next step is looking for the right bankruptcy attorney. This step is especially important for Chapter 13 filings because of the complexity of this particular chapter.

Contact Groce & DeArmon, P.C. For More Information

Filing for bankruptcy is going to be stressful and time-consuming, regardless of which chapter you file under. However, if you are able to file under the right chapter and with the right bankruptcy attorney, the process becomes more bearable. At Groce & DeArmon, we want to help make that process easier on you. For more information on what we do, give us a call at (417) 862-3706 or contact us online today.

Common Complications When Filing Chapter 13 Bankruptcy

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Filing papers

Few things in life loom heavier on the horizon than foreclosure, repossession, and loss of income. Whether due to medical bills, a sudden layoff from a job, or other unforeseen financial issues, thousands of people each year file Chapter 13 bankruptcy. At Groce & DeArmon, P.C., we help everyday people, such as yourself, get back on their feet again. Though it is true that filing Chapter 13 bankruptcy isn’t nearly as stressful or miserable as it is often made out to be, there are some complications that can occur. Finding a local bankruptcy attorney to help you through the process will ensure you avoid or properly manage these common issues.

Missing a Payment

If money grew on trees and fell from the sky on windy days, you wouldn’t have ever thought to file for Chapter 13 bankruptcy. In fact, the term bankruptcy probably wouldn’t exist! But money does not come easily to all, and your bankruptcy lawyer understands this. At Groce & DeArmon, we do our best to make certain your creditors also understand this. Missing a payment will not help a bankruptcy situation, but it doesn’t have to make things horrible either. Contact your lawyer and creditors immediately if you believe you will miss a payment.

Most Chapter 13 bankruptcy lasts between 36 and 60 months, and they cannot exceed 60 months. This means that if you miss a payment, then the amount missed will be credited to later months’ dues. You can continue with this adjusted payment plan and still pay off all you owe. However, if you don’t inform your creditors, they could take the missed payment as a sign of bad trust. The court could choose to dismiss your bankruptcy payment plan altogether.

Applying for Credit & Chapter 13 Bankruptcy

Applying for credit while under the terms of bankruptcy payment plan can be a tricky proposition. Not because your credit is ruined. In fact, bankruptcy can help you qualify for credit you may not have had access to before, but all credit must be approved by the court and your trustee before you can use it. Typically they will only allow credit for necessities. If you cannot get to work without a car, then they should allow you to take out a loan to buy a new vehicle after a car accident. It is important to consult your bankruptcy attorney before applying for credit. With our experience, we can better determine whether or not the court will turn down your credit. Speaking with our team could save you time and disappointment.

Get into Contact with Groce & DeArmon, P.C. Today

Applying for and living under the terms of Chapter 13 bankruptcy can seem daunting. If you don’t know where to start or where to go but know you need help, then give Groce & DeArmon, P.C. a call. Our law firm is here to help you get back up and into the driver’s seat of your life.

Related Post: How To File For Chapter 13 Bankruptcy

Chapter 13 Bankruptcy: A Beginner’s Guide

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Woman considering Chapter 13 bankruptcy8Last week, we spent our time discussing Chapter 7 bankruptcy and went through a beginner’s guide on how to approach it. This week, we will look at Chapter 13 bankruptcy, which is a chapter that is often utilized because of a Chapter 7 filing. What’s important to remember is that bankruptcy isn’t an add-on to current debt. In fact, it is quite the opposite. There are many Chapters of the Bankruptcy Code that work to get you debt free.

However, each chapter works towards that goal differently. While Chapter 7 focuses more on debt removal, Chapter 13 bankruptcy focuses on repayment. Where Chapter 7 works to pay off debts through nonexempt assets, Chapter 13 helps you to organize your finances and establish a payment plan. In today’s post, Groce & DeArmon, P.C. will break it down.

What Is Chapter 13 Bankruptcy?

What makes Chapter 7 and Chapter 13 bankruptcy similar is that they both end with a discharge of debt. With Chapter 7, that comes from forfeiture of assets. With Chapter 13, that comes from establishing a payment plan, anywhere from 3-5 years long, that helps you pay your debt back. Chapter 13 includes a significantly longer process than Chapter 7, but it doesn’t require the loss of property.

All Chapter 7 filers go through something called a means test, which is there to determine whether the debtor has the means to go through the Chapter 13 process.

How Does Chapter 13 Work?

As noted previously, it starts for some people with a plan to file for Chapter 7.  If it is determined by the means test that you can afford a payment plan, you can be moved to Chapter 13 bankruptcy. From that point, you will have a payment plan developed to which you pay monthly installments to your trustee for 3-5 years. The trustee distributes that money to the creditors you owe.

It is an easier process than Chapter 7, but it is also a longer process. Chapter 7 filers can be done in as little as six months, while Chapter 13 bankruptcy filers will be in it for up to half a decade.

Am I Eligible For Chapter 13?

The biggest eligibility requirement for Chapter 13 bankruptcy is income. The court will want to see that you have the income capability to make your monthly payment, so you will have to prove your employment and show your tax filings. You are also required to file as an individual and not as a business.

Contact Groce & DeArmon, P.C. For More Information

If you want to avoid forfeiting assets and have the disposable income to take on monthly payments on your debt, Chapter 13 bankruptcy might be your best option for repaying debt. Contact Groce & DeArmon, P.C. at (417) 862-3706 or get in touch with us online today.

Related Post: How To File For Chapter 13 Bankruptcy