Chapter 13 Bankruptcy – Generally Speaking

Many people don’t want to be placed in a Chapter 13 Bankruptcy but you may not have a choice. If you have the ability to repay some portion of your debt and maintain an income above the limit for the number of people in your household, then you will be forced to do a Chapter 13 Bankruptcy. In general this form of bankruptcy involves a repayment schedule that will last 60 months and you will pay back a portion of the debt you owe to the creditors. I have seen plans in these types of bankruptcies where the debtor repays 5-100% of the debt owed. If you have disposable income above your allowable household expenses, then there is a good chance you will be forced to file a Chapter 13 Bankruptcy when you attempt to ask the court to relieve you of your debt. Stop wondering if you would be a Chapter 13 or 7.  Call my office to set up your consultation today!   Todd Courser 810-245-0813