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Chapter 13 Bankruptcy (Reorganization):
What It Is and What It Isn't

Omaha Area: (402) 571-2900        Lincoln Area: (402) 464-3311

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By filing bankruptcy you automatically put a stop to:
Collection Calls    Garnishments    Pending court dates    Foreclosure    Repossessions

There are two important messages that the attorneys at Skrupa Law Office, LLC want to tell people about any bankruptcy. The first is that is that filing for bankruptcy immediately stops all creditor harassment, creditor phone calls, lawsuits and wage garnishment. The second is that only about 8 out of 10 people have to give up some of their possessions as a result of bankruptcy. Bankruptcy can stop repossessions from happening. We can't emphasize these points enough.

As we stated elsewhere, it's also important that people understand that you can't choose which kind of bankruptcy (often misspelled as bankrupcy) you want to go for. Chapter 13 is the one that involves debt consolidation. Chapter 13 is reserved for people who have enough disposable future income to pay some of their debts back. In the Chapter 13 bankruptcy, everything you earn as "disposable income" will be paid in one lump sum to cover your debts over the next three to five years. After that period of time, no matter how much of your debts you've actually paid, your debts are wiped clean.

But what counts as "disposable income"?

Here's where a good, experienced lawyer from Skrupa Law Office, LLC can use the law to get you a good deal. Our Attorneys and the team at Skrupa Law Office are extremely effective at getting all sorts of daily expenses classified as "non-disposable," meaning you won't have to give them up as part of a bankruptcy agreement. Sometimes people who owe $50,000 in house payments and face foreclosure only end up paying $7,000 over three years, at which point they get a fresh new start. Sometimes people who have debt defaults on car payments only have to pay half the blue book value of their car.

Of course, Chapter 13 bankruptcy is not all wine and roses, and it can hurt your credit rating. If you're not in serious financial trouble, you shouldn't consider it. But few people can really judge what constitutes "serious financial trouble" and what doesn't. That's where our attorneys come in. With 4500 bankruptcy proceedings under their belt, our lawyers and support staff can tell you quickly, in simple terms, whether bankruptcy is right for you.

Believe us, we wish we had more room here to set all of your concerns about bankruptcy to rest. For more information, you can always visit our Bankruptcy Frequently Asked Questions. And of course, you can always contact us for a free phone consultation with one of our Omaha and Lincoln Chapter 13 lawyers. We serve individuals and small businesses throughout the entire Central and Eastern Nebraska areas, including Omaha, Lincoln, Bellevue, Beatrice, Columbus, Douglas County and Lancaster County.

Here are some of the most commonly asked questions:

Q: What do I get to Keep? What do I Have to give up?
A: In MOST situations you will get to keep most everything. You'll get to keep your clothing, household furnishings, autos (up to a certain value). The law will let you keep all of your "exempt" property.

Q: Do I have to give up my house or auto?
A: You won't have to give up your house or auto unless you WANT to give them up.

Q: If I have a checking account can I keep that open and still write checks?
A: Yes. You can keep your account open. But you'll have to give up your credit cards.

Q: Can I make payments to Skrupa law office?
A: Sure, no problem. Plus we'll start taking creditor calls for you right away! Your bankruptcy will be processed upon your final payment.

To help speed up the bankruptcy process,   fill out our form to help us better understand your current financial situation.

Compassionate Guidance
Through Your Troubled Times

Skrupa Law Office, LLC

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.