Chapter 13

If a debtor falls behind on his monthly mortgage payments and is facing foreclosure proceedings, a Chapter 13 Bankruptcy will stop the foreclosure and give the debtor the opportunity to save his house. There are two criteria that the debtor has to meet in order for a Chapter 13 to…

When a debtor files for Chapter 13 bankruptcy protection, he is entering into a repayment plan that typically lasts from three to five years. Once the Plan is over, provided that all Plan requirements were met, or the debtor was excused from meeting them, then the debtor is discharged from…

A Debtor Can Continue Contributing Into His 401K Plan Once He Files For Chapter 13 Bankruptcy Protection Prior to October 2005, a Chapter 13 debtor had to discontinue making 401K contributions and 401K loan repayments when he filed for Chapter 13 Bankruptcy. The Bankruptcy Court’s rationale was that this money…

When a debtor files for Chapter 13 Bankruptcy, he is entering into a plan with his creditors whereby he is repaying back some, (if not all) of what he owes. Three factors determine the amount a debtor pays back in Chapter 13. These are as follows : The length of the Plan…