Articles Posted in Chapter 13

When you file a petition for Chapter 13 bankruptcy protection, you present a payment plan that, once approved, obligates you to make monthly payments to the bankruptcy trustee, who will then pay your creditors with the money. In order to obtain a discharge of your remaining unsecured debts, or have them wiped out at the…

When filing for bankruptcy protection, a very common question we hear often is about how chapter 13 bankruptcy affects your credit. No matter which type of bankruptcy works best for your personal situation, once you file bankruptcy, your credit report will reflect that for many years. While filing for Chapter 13 bankruptcy may negatively affect…

When faced with overwhelming debt, Chapter 13 bankruptcy exists as a form of debt relief, enacted by the federal government. Chapter 13 bankruptcy, or repayment bankruptcy, is an alternative to Chapter 7 bankruptcy, which is often referred to as a liquidation bankruptcy. Individuals with additional monthly income, and who own significant assets are typically better…

Making the decision regarding which chapter of bankruptcy to file is a difficult one. The decision to file Chapter 13 bankruptcy over Chapter 7 depends on what type of debt you are seeking to eliminate, where you live, and what you own. While bankruptcy doesn’t eliminate all types of debt such as child support, alimony,…

There are many considerations revolving around student loans whether you are repaying them, shopping for student loans for you or a child, or are currently in default. Student loan debt is among one of the types of debt that is not typically dischargeable in a Chapter 13 bankruptcy. However, while you can’t eliminate the debt,…

In a Chapter 13 bankruptcy case, you formulate a repayment plan for your debts using your income in order to pay some or all that you owe to creditors over a three to five year period. The length of the plan, of course, depends on how large your income compared to your debts. This repayment…

Chapter 13 bankruptcy, sometimes referred to as repayment bankruptcy, is a form of debt relief that allows a debtor to restructure their debt and pay back their creditors over the course of three to five years. The Chapter 13 repayment plan is based off of your disposable income and takes into account all your debts,…

Can I Sell My Home While in Chapter 13 Bankruptcy? There are many questions that those in Chapter 13 have and one of those is, “Can I sell my home while in bankruptcy?” The answer is yes. When in Chapter 13, individuals are able to pay back part of their debt and that means you…

One of the main reasons people don’t seek the protection of bankruptcy is because there are so many misconceptions out there. Some people think it simply bad to file bankruptcy. Others think Chapter 7 is better than Chapter 13, or vice versa. The truth is that bankruptcy is a tool that the Constitution has provided…

Homeowners all over the Sacramento area are taking stock of their finances to plan ahead for the New Year. Mortgage obligations can lead to financial stress when mortgage payments change or income fluctuates. Fortunately, Chapter 13 bankruptcy provides various opportunities for homeowners to delay or prevent foreclosure and pay off backed up payments on their…