Chapter 13 Bankruptcy (2024)

Chapter 13 Bankruptcy Basics

Chapter 13 Bankruptcy Basics

• An Overview of Chapter 13 Bankruptcy

  People who earn a significant income or want to protect valuable property will file for Chapter 13 bankruptcy. In exchange for debt relief, these filers pay their discretionary income to creditors in a three- to five-year repayment plan. Learn how the Chapter 13 bankruptcy process works, including how much you'll pay in your Chapter 13 repayment plan.

• Steps in a Typical Chapter 13 Bankruptcy Case

  Here is how a typical Chapter 13 bankruptcy proceeds – from filing the petition to receiving the discharge.

• Tips for Surviving Chapter 13 Bankruptcy

  Follow these tips to ensure successful completion of your Chapter 13 bankruptcy case.

• Does Chapter 13 Bankruptcy Ruin Your Credit?

  Your credit will likely suffer when you file a Chapter 13 case, but after Chapter 13 bankruptcy, credit scores tend to recover quickly. Also, a Chapter 13 bankruptcy filing will drop from your credit report years before a Chapter 7 case would.

• Chapter 13 Bankruptcy: What Will It Cost and Will It Work?

  If you’re trying to deal with too many debts, you’re probably wondering whether Chapter 7 or Chapter 13 bankruptcy will help you out.

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Eligibility for Chapter 13 Bankruptcy

Eligibility for Chapter 13 Bankruptcy

• Are You Eligible for Chapter 13 Bankruptcy?

  Although Chapter 13 bankruptcy can be a good option, not everyone meets Chapter 13 requirements. Find out what qualifies you for Chapter 13 and why Chapter 13 eligibility depends on up-to-date tax filings, debt amounts, and the ability to afford plan payments.

• Can I File for Bankruptcy If I Am Unemployed?

  You don't have to be employed to file for bankruptcy. But being unemployed can affect the success of your bankruptcy if you file for Chapter 13.

• Can an Undocumented Immigrant File for Bankruptcy?

  If you are an undocumented immigrant, you can file for bankruptcy if you have a valid Social Security Number or ITIN.

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The Chapter 13 Repayment Plan

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• Your Obligations Under a Chapter 13 Bankruptcy Plan

  Learn which debts you must pay back when you file for Chapter 13 bankruptcy.

• "Best Effort" Requirement in Chapter 13 Bankruptcy: Disposable Income Test

  In order to be confirmed (approved) by the court, your Chapter 13 repayment plan must represent your "best effort" at paying back your nonpriority unsecured creditors.

• Can I Pay Off My Chapter 13 Bankruptcy Plan Early?

  In most Chapter 13 bankruptcy cases, you cannot finish your Chapter 13 plan early unless you pay creditors in full.

• Debts That Must Be Paid in Chapter 13 Bankruptcy

  In Chapter 13 bankruptcy, you must pay some debts in full through your plan; others you pay in part. Here are the details.

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Reducing Loans and Mortgages in Chapter 13 (Cramdowns)

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• Cramdowns in Chapter 13 Bankruptcy: The Basics

  In Chapter 13 Bankruptcy, you may be able to reduce the principle of a secured debt to the value of the collateral secured. Learn how it works.

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Your Home and Mortgage in Chapter 13 Bankruptcy

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• Your Home in Chapter 13 Bankruptcy

  Chapter 13 bankruptcy provides opportunities for homeowners to delay or prevent foreclosure and pay off back debt on their mortgages.

• Keep Your House With Chapter 13 Bankruptcy

  Chapter 13 bankruptcy is a great tool for avoiding foreclosure.

• How to Value Your Home in Bankruptcy

  Keeping your new house in a Chapter 7 bankruptcy can depend on the accuracy of a Chapter 7 home appraisal. Learn about methods for valuing your home in bankruptcy and the role of bankruptcy appraisals.

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Your Car in Chapter 13 Bankruptcy

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• Car Repossession and Chapter 13 Bankruptcy

  Find out when a car loan lender can repossess your car during Chapter 13 bankruptcy and whether you can get it back if the repossession happened before you filed.

• Your Car in Chapter 13 Bankruptcy: An Overview

  What happens to your car, truck, van, motorcycle, or another vehicle if you file for Chapter 13 bankruptcy? Learn how filing for Chapter 13 bankruptcy can help you keep your vehicle from being repossessed and when you can use a cramdown to decrease the loan amount you'll need to pay.

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Your Debts in Chapter 13 Bankruptcy

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• Debts That Must Be Paid in Chapter 13 Bankruptcy

  In Chapter 13 bankruptcy, you must pay some debts in full through your plan; others you pay in part. Here are the details.

• Debts That Survive Chapter 13 Bankruptcy

  After you complete your Chapter 13 plan, some of the remaining debts won't be discharged.

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Your Property in Chapter 13 Bankruptcy

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• Can I Keep My Tax Refund in Chapter 13 Bankruptcy?

  If you receive a tax refund during a Chapter 13 bankruptcy case, the Chapter 13 trustee will likely require you to turn that money over for payment to your creditors.

• Keeping Property in Chapter 13 Bankruptcy

  In Chapter 13 bankruptcy, you are allowed to keep all of your property. However, if you have nonexempt assets, you may be required to pay back more of your unsecured debts through your Chapter 13 plan.

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