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Who determines how much my Chapter 13 payments will be?

How much you need to pay into your Chapter 13 plan depends on your disposable income as defined and determined by the bankruptcy laws.  You are allowed to keep as much of your income as is necessary to maintain a reasonable standard of living, based on IRS standards. Only your disposable income over and above such normal and … Read moreWho determines how much my Chapter 13 payments will be?

Can I keep my credit cards after I file for Chapter 13 bankruptcy?

Generally, NO. Under some circumstances you may be able to keep your credit cards. There are many factors which must be considered. Some of those include the credit card balance at the time of the bankruptcy, what the credit card company is willing to do and your ability to pay the present and future credit … Read moreCan I keep my credit cards after I file for Chapter 13 bankruptcy?

What should I avoid if I’m contemplating bankruptcy?

There are several areas related to this question. You should consult your attorney. In particular there are three items worth mentioning: a. Under bankruptcy law, certain luxury purchases over $1,000 within 60 days of the bankruptcy filing are presumed nondischargeable. b. Under bankruptcy law, cash advances aggregating $1,000 within 60 days of the bankruptcy filing … Read moreWhat should I avoid if I’m contemplating bankruptcy?

How do I re-establish my credit after filing Chapter 13 Bankruptcy?

There are at least two ways to get credit after a bankruptcy. First, one of your existing creditors may continue to grant you credit based upon your past dealings with them. Second, today there are several banks offering secured credit cards. This means that the credit limit is based upon the amount of security [cash] … Read moreHow do I re-establish my credit after filing Chapter 13 Bankruptcy?