Chapter 13 Bankruptcy is designed for individuals with a regular income, who are temporarily unable to pay their debts but would like to pay those debts in installments over time. In Chapter 13 your secured and unsecured debts may not exceed the dollar amounts as listed in the Bankruptcy code.
When you file for Chapter 13 bankruptcy, you must propose a repayment plan that details how you are going to pay back your debts over the next three to five years. The minimum amount you'll have to repay depends on how much you earn, how much you owe, and how much your unsecured creditors would have received if you'd filed for Chapter 7 bankruptcy.
If you have secured debts, Chapter 13 gives you an option to make up missed payments to avoid repossession or foreclosure. You can include these past due amounts in your repayment plan and make them up over time. When you have met all the requirements of the Chapter 13 you receive a discharge.
This office is no longer handling Chapter 13.
If you wish to file a Chapter 13 we will be happy to refer you.