Category Archives: Chapter 13

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What Gets Discharged in Chapter 13 Bankruptcy?

In a Chapter 13 bankruptcy, your debt will be broken down into: Secured debts Priority unsecured debts, and Non-priority unsecured debts For secured debts guaranteed by collateral, you will have to pay or surrender them if the collateral secures your obligation. This is usually property like a car or house. Priority unsecured debts don’t go……
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A Guide to the Different Chapters of Bankruptcy

If you’re on the verge, or even just considering the concept of filing for bankruptcy, understanding your options is an important step. People commonly hear about Chapter 7 or Chapter 13, but may not know the difference. The truth is the Bankruptcy Code allows for multiple different types of bankruptcy and understanding the difference between……
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How to Choose the Right Bankruptcy for Your Specific Situation

One of the largest differences between Chapter 7 and Chapter 13 protections is that, with Chapter 7, most of your debts are discharged. Under Chapter 13, you get to live in the same way you’ve become accustomed to (for example, keeping your house and vehicles) and you pay back your debt over a longer period……
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What Is the Means Test in Bankruptcy?

In 2005, the United States enacted the Bankruptcy Reform Act. Under the new guidelines, the courts are able to make a determination about whether or not you would be able to afford payments under a reorganization of your debt – in accordance with a Chapter 13 filing. One of the largest differences between Chapter 7……
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How Long Will My Chapter 13 Bankruptcy Take?

Just because you have a job does not necessarily mean you are making money. As you work day in and day out to provide for yourself and your family, your paycheck just might not be making ends meet. It is an unfortunate scenario to live in but there are ways for those dealing with debt……
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