Chapter 13 Bankruptcy Plan - Even Small Costs Matter
Bankruptcy Plan Payment
My clients are working hard to keep up with plan payments.
As a New Jersey bankruptcy attorney, I see that even the little costs matter in an individual’s finances.
One of the requirements of Chapter 13 bankruptcy is putting together a bankruptcy plan. Here, details of income and expenses are provided and are relevant. The amount you pay back to your creditors is based not only on your income but also you expenses.
Looking at expenses: Some good news for finances this 2024 Thanksgiving holiday.
As we constantly see prices and costs rising, this year, the average cost of a Thanksgiving dinner for 10 people is $58.05, (American Farm Bureau Federation annual survey)
The price last year was $61.17 — Wow – actually a drop in cost.
Thanksgiving Holiday Meal for 10 average Cost by Year (American Farm Bureau)
2024
$58.08
2023
$61.17
2022
$64.06
- Turkey, which makes up the largest portion of the total dinner bill (44.2%), led the overall drop in cost for a Thanksgiving meal this year.
- Turkey prices fell 6% this year compared with 2023 because of decreased demand. (I guess there are others like me who do not like turkey.)
- Ham, russet potatoes and frozen green beans also saw year-over-year price reductions.
Chapter 13 Bankruptcy Benefits:
- It is difficult for many to stay on a budget.
- Many do not have a monthly/weekly budet
- When you file for bankruptcy, a budget is created for you based upon you income and expenses.
- Many clients find that after their bankruptcy is completed, the adherence to a budget remains.
Chapter 13 Bankruptcy Plan's Key Element is:
Budgeting
Everyone, no matter their income, should understand and have a budget.
All of us want to relax at this time of year and take the burdens off their backs. We want to give thanks but also look to improve our financial burdens.
That is where I can help you. I will be able to guide you on which bankruptcy is right for you (if bankruptcy is right for you):
- My proven results with Filing Chapter 7 Bankruptcies for my clients: 100% success rate
- I have never lost a Chapter 7 Bankruptcy case in over 30 years.
- I will not recommend bankruptcy that will not be approved, or that is not the right financial decision for my clients.
- If you have equity in your home, Chapter 7 Bankruptcy is not right for you.
- Timing is also key when considering filing for bankruptcy.
- I will evaluate your case to see if you are eligible to have liens, second mortgages, or HELOCs either partially or completely stripped from your home.
- I can stop a bank foreclosure or a property tax sale, the same day you meet me.
- You don’t want to lose your home or assets, so filing a Chapter 13 Bankruptcy Plan could be the best option for you.
- If you file the wrong type of bankruptcy (Chapter) for your situation, you could lose your home/assets.
Client Reviews - Please take the time to read over my client reviews.
I hope that I have the opportunity to meet with you and improve your financial situation.
When meeting with my bankruptcy clients, I see that the most important part of their lives are their families and friends as well as the experiences they share.
Finances can put stress on personal relationships.
As a bankruptcy attorney, I am thankful for my clients and the experiences they share with me as well as my ability to help them through difficult financial times.
I Wish You and Your Friends and Families a Wonderful Thanksgiving with great memories and experiences.
Let’s talk turkey….
I can help you get your finances back on track and reduce stress so you can enjoy time with friends and family.
Call Now:
Call my cell phone at (201) 446-5904 to schedule a meeting.
(201) 446-5904 - Call Me Today: Ralph A. Ferro, Jr., Esq.
You need to understand all aspects of filing for bankruptcy before you make this critical decision. I take the time to meet with my clients personally, and you are never rushed through our meetings.
Budgeting and Costs/Expenses matter – Even with your Turkey Dinner
