Chapter 13 Bankruptcy

Who can use Chapter 13?

Chapter 13 is available to those borrowers with regular income who have less than $307,675 in unsecured debts (such as credit cards) and less than $922,975 in secured debts (such as mortgages and car loans). In a joint Chapter 13 case those limits are not doubled, instead they are applied to the total amount owed by the debtors.

Chapter 13 discharge won't be granted if the debtor received discharge in Chapter 7, 11, or 12 within the previous 4 years, or a discharge under Chapter 13 within the previous 2 years.

>>What does a Chapter 13 bankruptcy involve?
>>What steps do I need to take before filing for bankruptcy?
>>Who can use Chapter 13?
>>What is the proposed payment plan?
>>What is the role of the Chapter 13 trustee?
>>What are the main effects of filing under Chapter 13?
>>Can I save my home and other assets by filing under Chapter 13?

Practical Law Home | Bankruptcy | Bankruptcy Pros & Cons | Chapter 7 | *Chapter 13*