Yes. The question is which chapter is right for your particular circumstances. Typically, Chapter 7 is the chapter we recommend if you are eligible. It is the quickest, the easiest, and in most circumstances, it does the most for you.
- Criminal Defense Under investigation? Been arrested? Keep your mouth shut!
- Criminal Defense
- Assault Family Violence
- Assault By Choking/Impeding Breath
- Domestic Violence
- Aggravated Assault
- Sex Offenses
- Bond Reduction
- Grand Jury Meeting
- Avoiding an Indictment
- Improper Relationship With a Student
- Theft Crimes
- Theft Over $2,500
- Engaged in Organized Crime
- Probation Violation
- Evading Arrest
Chapter 13 bankruptcy is appropriate whenever you have overwhelming IRS debt, are facing foreclosure or repossession, or if you simply make too much money to file a Chapter 7.
There are limits on who can file a Chapter 13, however. If you have more than a million dollars in secured debt or more than $300,000 in unsecured debt then you are not eligible for a Chapter 13. You would then need to consider a Chapter 11 bankruptcy.
Even if someone makes a high salary, Chapter 13 can help them. For instance, if a family makes $200,000 a year and they are unable to pass the Means Test, then subject to the debt limitations above they will still benefit greatly if they have a large amount of unsecured debt and they file a Chapter 13 100% Plan.
In such a Plan, they would have the benefit of paying their unsecured creditors back at 0% interest. If they owed $100,000 of unsecured debt and they were being charged 25% interest, then the Chapter 13 100% Plan would save them roughly $25,000 per year.
Nevertheless, most of our Chapter 13 clients pay almost nothing to the unsecured creditors.