Chapter 13 Bankruptcy

Chapter 13 bankruptcy is often the best solution available to those experiencing temporary financial hardship. In a Chapter 13 bankruptcy case, people can restructure some of their financial obligations. They can prevent foreclosure, vehicle repossession and creditor...

People dealing with high levels of debt may eventually file for personal bankruptcy. Bankruptcy proceedings protect people from collection efforts. Creditors have to stop calling. The courts usually dismiss pending debt-related lawsuits due to the automatic stay. If...

Chapter 13 bankruptcy gives you a structured way to repay debts over time, but financial situations can change. If your income drops, expenses rise, or unexpected hardships occur, modifying your repayment plan may be an option. Understanding when and how you can...

Chapter 13 bankruptcy can help self-employed people who have unpredictable income. It lets them create a plan to repay their debts in a way that fits their situation. This can help them get their finances back on track. But having an income that goes up and down can...

When facing financial hardship, opting for a debt reorganization can offer a way to regain stability. Among the two most common types of personal bankruptcy — Chapter 7 and Chapter 13 — the latter is suitable for individuals with a steady source of income. While...

In a Chapter 13 bankruptcy, the trustee plays a crucial role in managing the debtor's repayment plan. Understanding what a trustee does can help those navigating this process feel more informed and prepared. Reviewing and approving the repayment plan The trustee...

People sometimes call Chapter 13 bankruptcy a wage earner's plan. The goal is to help someone with a reasonable income and valuable property take control over frustrating financial challenges. Instead of liquidating certain assets before quickly discharging their...

Chapter 13 bankruptcy allows individuals to reorganize their debts while keeping their assets. If you hold or seek a professional license, it is important to understand how bankruptcy could affect your professional standing. Knowing these potential impacts can help...

Chapter 13 bankruptcy is one of the most common forms of bankruptcy. People with valuable property or above-average income file for Chapter 13 proceedings because they do not qualify for Chapter 7 bankruptcy. Others may choose a Chapter 13 filing because they want to...

The option of Chapter 13 bankruptcy, also referred to as a wage earner's plan, is available to people who have a steady source of income. It can assist them in rearranging their debts and coming up with a reasonable payback schedule. However, before filing for Chapter...