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this is a big question, but generally, chapter 13 is used to strip off a second, unsecured mortgage or to retain unexemptable property. you will continuing paying on your secured debts, e.g. your mortgage, and will generally repay only a fraction of your unsecured debts. this will be done over 3-5 years.
Wiki User
∙ 11y ago
Wiki User
∙ 10y agoChapter 13 in the Bankruptcy FAQ covers individual debt adjustment. The chapter states that it can provide debt adjustment for individuals with regular incomes, usually lasting 3 to 5 years.
Wiki User
∙ 10y agoThe Chapter 13 bankruptcy law allows a debtor to keep their property and pay their debt over time, usually over a period of between three to five years.
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Can a lawyer provide you with bankruptcy information?
A lawyer is actually one of the best resources for information about bankruptcy. There are even bankruptcy lawyers who specialize in Chapter 7 and Chapter 13 bankruptcy law.
Where can one find experienced chapter 13 bankruptcy lawyers?
Rick Mitchell Law offer experienced Chapter 13 Bankruptcy Attorneys. Most clients who need Chapter 13 bankruptcy protection have issued with businesses and partnerships that need to be unwound or otherwise dealt with.
Can someone open an LLC while in Chapter 13 bankruptcy?
Yes, nothing in the bankruptcy law prevents you from opening an LLC.
Can you refile chapter 13 bankruptcy under the new bankruptcy law after your case was dismissed to avoid foreclosure?
A chapter 13 can be filed if it has been at least two years from the date the first filing was dismissed.
How soon can you file bankruptcy after a voluntary dismissal of a chapter 13?
is it safe to file for voluntary dismissal of chapter 13 bankruptcy
If you had bankruptcy in 2004 can you file for bankruptcy again?
Some strict limitations have been set by the new bankruptcy law. Debtors will not be able to file Chapter 7 bankruptcy if they've been through a Chapter 7 within eight years of the new filing. If they want to file for Chapter 13, they will not receive a discharge within two years of a previous Chapter 13 discharge and within four years if they were discharged from a Chapter 7, 11 or 12 bankruptcy.
If you filed chapter 13 bankruptcy and it was discharged can you file chapter 7 bankruptcy now?
Yes.
Can you get your car back after a repossession if you file chapter 13 bankruptcy?
In GA Can you get your car back after a repossession if you file chapter 13 bankruptcy
What is the law for the time limit given for discharge on chapter 7 bankruptcy?
What is the law for the time limit given for discharge on chapter 7 bankruptcy?
What happens if you wreck your car after filing for Chapter 13 bankruptcy?
If you wreck your car after filing for Chapter 13 bankruptcy you can file it on your insurance. You can then replace your car based on the bankruptcy order.
Chapter 13 bankruptcy be dissimisal?
You can get a Chapter 13 bankruptcy dismissal by asking your lawyer to ask the trustee for a dismissal. If you are having trouble making the payments, you can ask for you bankruptcy to be modified.
If you voluntarily have a chapter 13 bankruptcy dismissed will your creditors be notified of the dismissal?
Yes. If you voluntarily have a chapter 13 bankruptcy dismissed, your creditors will be notified of the dismissal.
