Category Archives: Chapter 13

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The 3 Types of Creditor Claims in Bankruptcy

Filing for bankruptcy is an option many people take when they need to free themselves from financial hardship and get a fresh start. It’s not for everyone, but it’s more than helpful for those who qualify. When filing for bankruptcy, it’s important to know how the courts will treat your debts. When it comes down……
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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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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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