How Much Will I End Up Paying in My Chapter 13 Bankruptcy?

Bankruptcy Attorney

Entering into bankruptcy can be very stressful but once everything is in place and progress is being made you will certainly discover that it is not near as stressful as what you have been experiencing prior to seeking out this form of a debt relief. You should also consider using the services of an experienced bankruptcy lawyer in Dayton OH to assist you through the entire process.

Fees For Financial Freedom

Naturally the first thing that you are going to want to know is how much are you going to have to pay? The Chapter 13 bankruptcy is different than the Chapter 7 in that you get the opportunity to draft a payment plan to satisfy your creditors. Once you do this and it becomes approved by the bankruptcy courts your creditors can take no further action against you and must comply with the proposed payment plan. The plan must follow the rules and regulations of the bankruptcy court and this is why it’s important that you have professional legal advice.

There are some bills that will have to be paid in fall and these are going to include your administrative costs for filing for your bankruptcy. These include your filing fee, the trustee’s commission, and your attorney’s fees. You will also have to pay in full in most cases your priority debts which are any alimony or child support that you all most tax stats along with some of the other priority debts. Your mortgage defaults will have to be paid and any other secured debts that are in default will be included. When it comes to unsecured debts a portion may be paid or there may not be any payment that is required. Each bankruptcy case is unique and has to be based on your financial circumstances.

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