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Exclusive Savings
Calculator
Using
Bankruptcy.......
Find Out How Much Money You
Can Save!
It's Easy.
Just follow these
simple Instructions:
1. Fill in the following table with
information about every debt you have.
2. Do
NOT include any of your normal monthly living
expenses, like rent, food, etc.
3. For each
debt, you must fill in all 3 fields.
Name of Creditor: Just type in the name.
Type
of Debt: To help you choice the correct
type of debt, examples of each type
of debt are
included in the table at the bottom of this
screen.
Minimum Monthly Payment:
If there is no set minimum payment for a
debt, fill in
what you think a reasonable minimum payment would be.
[What is a "reasonable" payment, you ask? A good "rule of
thumb" is to divide
]
[the debt by 48 months. For instance, let's say you owe $5000
on a repo deficiency.]
[Dividing this $5000 by 48 = a reasonable minimum payment of
$104 per month. ]
4. Filling in payment amounts: Do NOT include
the "$" or any commas.
5. When you are finished entering all your
debts, click on the "Calculate" button.
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Like what you see?
Call for a FREE Debt Consultation.
Call toll free 1-800-509-3200.
DISCLAIMER: Actual results may be better than the result shown. For example:
savings may be greater: (1) on secured debts, where the plan is to surrender collateral,
(2) in the case of dischargeable taxes, or (3) where
actual minimum payments are higher than projected due to
the inclusion of mounting interest. The result shown is an approximation and assumes: (1) Input of full and accurate information, (2) Filing under Chapter 7 of the U.S. Bankruptcy Code, (3) No equity above exemptions or disposable income, as defined by the State and Federal law, and (4) No co-signer involvement with respect to unsecured debts and (5) That you want to keep all the property you have. Bankruptcy law is complex, and therefore, the actual result to be achieved in your situation can only be known after a full-blown analysis of your situation by a full-time, experienced, bankruptcy attorney, taking into account your particular goals, assets, debts, income and expenses.
Types Of Debts: Although there may be exceptions, the following types of debts would generally include the following:
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UNSECURED |
SECURED |
PRIORITY |
OTHER |
Credit Cards
Medical Bills
Pay Day Loans
Old Utility Bills
Old Phone Bills
Signature Loans
Unsecured
Loans
(Even if you listed
household
goods)(See*)
Repo Deficiencies
Foreclosure Deficiencies
Old Landlords
Old Membership Fees
Overdraft Protection
Overdue
Legal Fees |
Car Loans
Mortgage Payments
Secured
Loans
(Secured by vehicle,
land or home.)
Vehicle Leases
Equipment Leases
Furniture Purchases
Jewelry Purchases
Equipment Purchases
Timeshare Payments
Homeowner Assn Dues
Plus Any Other Secured Debts
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Taxes
Student Loans
Alimony
Child Support
Fines
Restitution |
Any debt that does NOT fall
in another
category.
*In California, this type of debt will generally be created as unsecured for purposes of bankruptcy. |
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