Chapter 13 Bankruptcy with Steigerwalt Law Firm

Reduce Debt with One Monthly Payment

• One affordable payment each month covers ALL debts. Payments are made for three years, depending on the amount of the debt and your income.
• Pay only part, not all, of your debt in most cases. With a few exceptions (such as child support, alimony, taxes, and a first mortgage on a house you keep) the rest of your debt is wiped out once you have made all your payments.
• Income tax debts over 3 years old may be reduced or eliminated, and you get more time to pay tax debts less than 3 years old, often with little or no interest
• Bill collectors must stop; they have no choice but to accept the plan.

Keep Your House

• STOP FORECLOSURE and KEEP YOUR HOUSE if you start up paying your first
  mortgage again, even if you have fallen behind.
• Home equity loan, second mortgage, and third mortgage are wiped out
  (a "lien strip") in most cases.

Keep Your Car & Other Belongings

• KEEP YOUR CAR if you start up making payments again - even if it was
  repossessed, as long as it wasn't resold yet
• Car loan is reduced to actual value of the car. The interest rate can also be
  reduced in many cases. These two steps can lower your car payments.
• Keep your belongings - jewelry, tools, furniture, etc. - YOU KEEP EVERYTHING!

Credit Improved:

• Credit card debt dramatically reduced and rest is wiped out, in most cases
• Credit score is improved by completing the Chapter 13 payment plan.

• Enough steady income to make the court-ordered payment each month
• The ability to make all court-ordered child support payments and to make up any payments you have missed.
• Secured debts (such as a mortgage) of less than $1,010,650
• Unsecured debt (such as credit cards) of less than $336,900

If you qualify for Chapter 13, they will prepare a legally correct payment plan and file it with the Bankruptcy Court.

A court hearing is then held at which your attorney will ask the Bankruptcy Court to order your plan "approved." Once the court approves your plan, you get all the benefits that come from your monthly payment. (Your monthly payment can go up or down if your income goes up or down.)

• San Diego Chapter 13 Bankruptcy Filing Fee: $274.00, paid to the Bankruptcy Court
• Bankruptcy Trustee Fee: varies. You send your monthly payment to the trustee, who pays your creditors according to the plan. The Trustee Fee amount depends on your income and how many creditors you have, and is paid each month as part of your plan.
• Steigerwalt Law Firm's bankruptcy attorney fee: varies, depending on how complicated your situation is - how many different creditors, types of debt, types of income, and so on. We offer:
• A free consultation
• A reliable flat-fee quote tailored to your exact situation
• Affordable payment plans.
  We have found that once clients commit to filing Chapter 13 bankruptcy, they can stop paying their bills and can usually then pay all their attorney fees in a month or so.