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In Chapter 13, a debtor is generally entitled to keep his assets while repaying debts through a plan of reorganization. Amongst a debtor’s creditors there are different rights and priorities that affect the ownership of a debtor’s assets and the priority in which creditors get paid. Read further to learn more on how secured debt is handled in Chapter 13 bankruptcy.
→ Read MoreIf you have missed payments on your Chapter 13 bankruptcy plan, you need to deal with the situation immediately to avoid the trustee dismissing your case. There are options to help you get back on track.
→ Read MoreWhen you enter into a Chapter 13 bankruptcy, you create a repayment plan that is approved by both the court and by the creditors. You can pay off your bankruptcy plan early, but whether it’s a good idea or not will depend on several factors.
→ Read MoreYes, you can convert a Chapter 13 bankruptcy case to Chapter 7 bankruptcy at any time, for any reason, as long as you qualify for a Chapter 7 bankruptcy. You cannot avoid the qualifications for filing a Chapter 7 simply by converting a Chapter 13.
→ Read MoreChapter 13 disposable income is whatever is left over from your net income after required payroll deductions and allowable expenses, after applying the means test formula. Put another way, disposable income is the amount of money you have at your disposal to be eligible to file a Chapter 13 repayment plan.
→ Read MoreA Chapter 13 bankruptcy repayment plan requires you to repay your creditors according to the plan you agreed on during your initial bankruptcy filing. If you find yourself unable to make your Chapter 13 repayment plan payments because you were laid off, you should first understand the rules for payment or nonpayment.
→ Read MoreFind the right lawyer for your legal issue.
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