Image by Nik Shuliahin

Chapter 13 Bankruptcy

 

In Chapter 13 bankruptcy, or "wage earner" bankruptcy, you must have a reliable source of income to repay some portion of your debt.

Repayment. You’ll propose a repayment plan that details how you are going to pay back your debts over three to five years. The minimum amount you'll have to repay depends on how much you earn, how much you owe, and the value of your nonexempt property.

Debt limits. You cannot have more than $1,257,850 in secured debt and $419,275 in unsecured debt (as of April 2019).

Mortgage and car payment arrearages. Many people use the Chapter 13 bankruptcy repayment plan to catch up on past due house and car payments and avoid repossession or foreclosure.

GET READY TO TAKE YOUR LIFE BACK

 

If you're ready to regain control of your life, stop worrying about

constant, harassing collection calls and begin your path

to establishing financial freedom, you've come to the right place.