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Are You Eligible for Chapter 13 Bankruptcy?
Here are the eligibility requirements to file for Chapter 13 bankruptcy, and what you must do during the bankruptcy case in order to keep it from being dismissed.
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Bankruptcy Payments: What to Expect on a Low Income
When you file for Chapter 13 bankruptcy, you must commit to a repayment plan that will pay off some or all of your debts over three to five years. Your monthly payments will depend on your debts and your income. Some debts must be paid in full in Chapter 13, regardless of your income. If you don't earn enough to pay off these debts, the judge won't confirm your Chapter 13 repayment plan.
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Chapter 13 Rules: No Means Test Required
When Congress overhauled the bankruptcy laws in 2005, there was a lot of hubbub over the "means test." The good news is that if you plan to file for Chapter 13 bankruptcy, the means test has no bearing
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Can I file for Chapter 13 if I'm unemployed?
Answer: If you're out of work, you probably won't be able to use Chapter 13 if you want to file for bankruptcy. In Chapter 13, you agree to a repayment plan, to last three to five years (depending on your debts, income, and assets), to pay off some or all of your debt.
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My only income is Social Security payments. Can I still file for Chapter 13 bankruptcy?
I want to file for Chapter 13 bankruptcy since I have a home with a lot of equity as well as three cars. However, my only income comes from social security. I am struggling with credit card debt, but I don't want to file for Chapter 7 bankruptcy because I have a lot of assets.
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Get in-depth information about Chapter 13 bankruptcy with this comprehensive book.