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This chapter discusses six aspects of a chapter 13 proceeding: the advantages of choosing chapter 13, the chapter 13 eligibility requirements, how a chapter 13 proceeding works, making the plan work, and the special chapter 13 discharge.
Chapter 13 bankruptcy allows you to propose a repayment plan to the court and creditors. Learn about qualifying and filing for chapter 13 bankruptcy.
Here, learn about Chapter 13 bankruptcy, which is a legal process that lets people pay off their debt through a 3- to 5-year plan. It may stay on your credit report for less time than a Chapter 7. But some types of debt, and some creditors' rights, can't be eliminated.
Chapter 13 is a form of bankruptcy that allows debtors to restructure their debts and pay them off over a period of three to five years under court supervision.
When you file a Chapter 13 bankruptcy, you must prove you can afford to pay your monthly household obligations and the monthly plan payment. The bankruptcy court won't " confirm " or approve your proposed Chapter 13 plan if you don't have any income or it's too low.
Here, learn some essentials about Chapter 13 bankruptcy, including who can file, how much it costs, and how payments are calculated. Chapter 13 is a form of bankruptcy that lets individuals pay off their debts over a period of 3-5 years while keeping some assets.
In a chapter 13 case, to participate in distributions from the bankruptcy estate, unsecured creditors must file their claims with the court within 90 days after the first date set for the meeting of creditors.
Read about how filing for Chapter 13 bankruptcy can help you reorganize your finances, how it differs from Chapter 7, and who may be eligible for it.
In-depth information about Chapter 13 bankruptcy, including the pros and cons of Chapter 13, how it differs from Chapter 7, how repayment plans work, the debts that remain after a Chapter 13 discharge, and more.
Once an individual or business has filed for Chapter 13 bankruptcy, the law provides for an automatic stay of outstanding debts, which means that creditors generally cannot carry out collection attempts, lawsuits, or wage garnishments.