Examples of Arizona Chapter 13 Bankruptcy Cases
Some Chapter 13 Bankruptcy Examples
The following are a few basic examples of the benefits a chapter 13 have provided some actual clients.
CLIENT #1
Client Name: Mr. "Christian" Location: Arizona Chapter: 13
Debts:
189743.00 - Unsecured credit card, medical bill, failed business related debt
162,000 - Home mortgage debt
15,500 - Car loan
Minimum Payments outside of Bankruptcy to maintain debt load - monthly
3197.24 per month - mortgages and all living expenses
280.00 per month car
5500.00 per month - debt service on all remaining debt
After Chapter 13 - Payment and Budget Breakdown - monthly
3197.24 living expenses including mortgages
676.00 Chapter 13 plan payment
Total paid to unsecured creditors:
6444.23
Difference in Monthly Payments
8977.24 - before chapter 13 total needed to service all debt
3873.24 - total needed to service all debt after chapter 13 filed
5104 - savings per month
Debt Discharged at end of plan
$176685.00
Non Exempt Assets Protected
$9000.00 value
CLIENT #2
Client Name: Mr. and Mrs. "Jones" Location: Arizona Chapter: 13
Debts:
183,000.00 - Unsecured credit card, medical bill, business related debt
102,000 - Home mortgage debt
15,900 - Car loan
Minimum Payments outside of Bankruptcy to maintain debt load
3647.00 per month - mortgages and all living expenses
280.00 per month car
4500.00 per month - debt service on all remaining debt
After Chapter 13 - Payment and Budget Breakdown
3647.00 living expenses including mortgages
1850.00 Chapter 13 plan payment
Total paid to unsecured creditors:
78562.00
Difference in Monthly Payments
8427.00 - before chapter 13 total needed to service all debt
5497.00 - total needed to service all debt after chapter 13 filed
2930.00 - savings per month
Debt Discharged at end of plan
$104,676
CLIENT #3
Client Name: Ms. "Redfish" Location: Arizona Chapter: 13
Debts:
20,000.00 - Unsecured credit card, medical bills
13,027.00 - Car loan
Minimum Payments outside of Bankruptcy to maintain debt load
1707.00 per month - mortgages and all living expenses
160.00 per month car
890.00 per month - debt service on all remaining debt
After Chapter 13 - Payment and Budget Breakdown
1707.00 living expenses including mortgages
501.00 Chapter 13 plan payment
Total paid to unsecured creditors:
1201.91
Difference in Monthly Payments
2757.00 - before chapter 13 total needed to service all debt
2208.00 - total needed to service all debt after chapter 13 filed
549.00 - savings per month
Debt Discharged at end of plan
$17273.00
CLIENT #4
Client Name: Ms. "Trout" Location: Arizona Chapter: 13
Debts:
97,000.00 - Unsecured credit card, medical bills
Minimum Payments outside of Bankruptcy to maintain debt load
2546.00 per month - all living expenses including rent
4500.00 per month - debt service on all remaining debt
After Chapter 13 - Payment and Budget Breakdown
2546.00 living expenses including rent
190.00 Chapter 13 plan payment for 36 months
Total paid to unsecured creditors:
4056.00
Difference in Monthly Payments
7046.00 - before chapter 13 total needed to service all debt and pay living expenses
2736.00 - total needed to service all debt and pay living expenses after chapter 13 filed
4310.00 - savings per month
Debt Discharged at end of plan
$93113.00
Non Exempt Assets Protected
$2000.00
To speak about your options contact an attorney with chapter 13 bankruptcy experience.
