- I can't afford my current Chapter 13 plan payment. Can I reduce my payment amount?
- Can I Choose Which Creditors Get Paid First in My Chapter 13 Plan?
- Chapter 13 Bankruptcy Plan Length
- Can the trustee dismiss my Chapter 13 bankruptcy if I miss a plan payment?
- Can the bank repossess my car if I don't make my Chapter 13 plan payments?
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The repayment plan is the centerpiece of a Chapter 13 bankruptcy. Through the plan, the debtor repays some debts in full and others in full or part, depending on a few factors. Because the debtor receives the protection of the bankruptcy court during the repayment period, the plan can alleviate the stress and burden of overwhelming debt and monthly obligations.
It is, however, a long-term commitment and requires that the debtor stick to a strict budget. Upon completion of the plan, most remaining debts are discharged.
Learn About the Chapter 13 Payment Plan
In this section you can find information on how the plan works, how the monthly payment amount (and consequently the amount of debt that must be repaid) is calculated, and more.