Reorganize Debt Through Chapter 13 Bankruptcy

There are a number of “save your home” scams being run right now through the internet. Don't be fooled into another debt cycle—Chapter 13 remains one of the best mechanisms to prevent loss of a home from a foreclosure.

Please call our office to learn your true rights and responsibilities involving debt: (207) 283-3777

About "Wage Earner Bankruptcy"

Often, the most satisfying and successful bankruptcies are those that involve a partial repayment of debts through financial reorganization. Clients with the ability to repay some debts will be able to protect more property and incur less damaging credit through the Chapter 13 bankruptcy process.

Molleur Law practice has been successfully filing Chapter 13 cases in Maine for over 30 years, guiding people like you out of the quagmire of debt and into a manageable repayment plan.

The benefits of your Chapter 13 commitment are numerous compared with other bankruptcy options. However, a strong candidate for Chapter 13 must have a stable income and an ability to commit to a long term (up to 5 years) financial plan. If you meet the basic requirements of Chapter 13, we can help you reach a strong and stable solution to your debt crisis. Contact us to schedule an initial interview.

Basic Requirements of Chapter 13 Bankruptcy in Maine

Eligibility

• You must have a regular income, which can include unemployment benefits, worker's compensation benefits, or ADC benefits
• It is not necessary to have wage employment or to be self-employed to take advantage of Chapter 13
• Your unsecured debt must be below $336,900; and your secured debt must be below $1,010,650

Feasibility

• A test of resources will measure your anticipated income over the next 3 to 5 years
• Includes assets that a debtor may sell or liquidate during the plan to contribute

Good Faith

• An applicant must show cooperation and an honest disclosure of information during the filing and bankruptcy proceedings
• Courts will often give a debtor the benefit of the doubt despite some bad behavior

Process of a Chapter 13 Bankruptcy Case

Molleur Law Office has written an article that explains, in general, the process of a Chapter 13 case in the State of Maine. There are several steps that every Chapter 13 case follows:

• The creation of the Chapter 13 plan
• The trustee meeting
• Confirmation of the Chapter 13 plan
• Court approval of the Motion to Allow and Disallow Claims

Schedule an Appointment

If you feel that a Chapter 13 reorganization would help you overcome your debt crisis, please schedule an appointment to meet with us. Molleur Law Office has been filing Chapter 13 bankruptcies in Maine for over 30 years, creating new financial futures for consumers and businesses.

Chapter 13 Bankruptcy

"Wage Earner Bankruptcy"

In this section:

• Getting Started with Chapter 13

• 07/26/12 - Introduction to Bankruptcy (Video & Transcript)
• 03/16/12 - Chapter 13 Frequently Asked Questions
• 01/10/11 - Comprehensive Foreclosure Defense
• 10/01/10 - Maine Court Finds Affidavit Filed in Bad Faith and Vacates Summary Judgment Order in Foreclosure
• 06/28/10 - Supreme Court Decides Two Cases
• 03/26/10 - Recent Supreme Court decisions
• 03/26/10 - Chapter 13 Debt Limits to Adjust on April 1, 2010
• 11/09/09 - First Circuit Holds Alimony Penalty Dischargeable
• 08/29/09 - Phantom Expenses on Means Test
• 01/31/09 - NACBA Report on Loan Modifications
• 01/06/09 - Loan Modifications in Chapter 13
• 11/30/08 - Means Test Ruling in Maine
• 03/08/07 - Debt Consolidation Programs: Bankruptcy Can be a Better Option
• 11/29/06 - Why Choose Chapter 13 Over Chapter 7?
• 11/27/06 - Chapter 11 for Small Businesses
• 11/05/06 - Dischargeability of Taxes
• 09/19/06 - Process of a Chapter 13 Bankruptcy Case
• 09/14/06 - Winners and Losers under BAPCPA
• 08/28/06 - How to Correct Mistakes On Your Credit Report
• 08/12/06 - Foreclosure Rescue Scams

View All Blog Posts

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