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While it may feel odd to pay fees to tell the courts you don't have enough money, you typically have to pay court fees to file for bankruptcy. The filing fee for a Chapter 7 bankruptcy is $338, while the filing fee for a Chapter 13 bankruptcy is $313.
Chapter 13 and Chapter 7 bankruptcy will have the same affect on your credit score; but a lender might look more favorably upon Chapter 13.
Certain debts will remain on your account when you file for Chapter 7 bankruptcy. You will still be responsible for alimony and child support. Tax liens, student loans, and personal injury debts caused by intoxicated drivers are still on the docket, as well.
If you receive this notice, it means one of three things: The address you provided for the creditor in your bankruptcy paperwork was incorrect, The court sent you notice of your own bankruptcy via this form, or. Someone who owes you money filed bankruptcy.
What is a 410A form? Mortgage Proof of Claim Attachment (US Bankruptcy Court Official Form 410A) This Official Form 410A must be attached to a proof of claim in an individual debtor's bankruptcy case where the claim is secured by a security interest in the debtor's principal residence.
A Chapter 13 petition for bankruptcy will likely necessitate a $500 to $600 monthly payment, especially for debtors paying at least one automobile through the payment plan. However, since the bankruptcy court will consider a large number of factors, this estimate could vary greatly.
If you would like to file a Chapter 7 bankruptcy you must pass the Alaska means test. The test only applies to higher income filers which means that if your income is below the Alaska median for your household size you are exempt from the test and may file a Chapter 7.
The biggest difference between Chapter 7 and Chapter 13 is that Chapter 7 focuses on discharging (getting rid of) unsecured debt such as credit cards, personal loans and medical bills while Chapter 13 allows you to catch up on secured debts like your home or your car while also discharging unsecured debt.