Category Archives: Chapter 13


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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What if I Can No Longer Make My Chapter 13 Bankruptcy Payments?

Filing for Chapter 13 bankruptcy is one option if you are struggling financially. Under Chapter 13, your debt obligations get reorganized into a supervised monthly payment plan agreed on by your creditors. This payment plan generally lasts for a period between three to five years. Once your repayment plan is over, the remaining debt will……
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What Gets Discharged in Chapter 13?

 In a Chapter 13 bankruptcy, your debts will be broken down into secured debts, priority unsecured debts and non-priority unsecured debts. For secured debts, which are guaranteed by collateral, if the collateral secures your obligation, you will have to pay or surrender it. This is usually property like a car or house. Priority unsecured debts……
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Debts that Survive Chapter 13 Bankruptcy

Chapter 13 bankruptcy is an option where you are required to repay some of your debts in full through a three to five-year repayment plan. Through this, you will pay unsecured, non-priority creditors in part, and when your plan comes to a close the remainder of your debt is discharged. But of course, not all……
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What is a Chapter 13 Bankruptcy Cramdown?

When your home or primary vehicle is at risk, you can take advantage of Chapter 13 bankruptcy cramdowns to help improve your situation. Utilizing a cramdown can be beneficial because it will reduce the balance of a debt down to the value of the property at risk. It may be possible for you to also……
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