CHAPTER 13

Chapter 13 Bankruptcy which is sometimes also referred to as a 'reorganization' or 'repayment' bankruptcy. Chapter 13

bankruptcy is filed by individuals or families who wish to pay off their debts over a period of three to five years. This type of bankruptcy appeals to individuals who have non-exempt property that they want to keep. It is also an option for individuals who have predictable income and whose income is sufficient to pay their reasonable expenses with some amount left over to pay off their debts.

 

In many of our Chapter 13 cases that we file, our clients discharge much of their debt and only pay pennies on the dollar for their remaining unsecured debt.

 

Chapter 13 is most appealing to those that are facing repossessions and foreclosures. If you are considering filing a Chapter 13 bankruptcy, it is imperative you speak with a experienced and professional Attorney who has handled these cases in the past.