Chapter 13 Bankruptcy Payment Plan

When you file for chapter 13 bankruptcy protection you are required to repay your outstanding debt, usually within a three to five year period, and allowed to keep your property. This bankruptcy option can be ideal for working individuals who have a substantial amount of debt on secured assets like a home, automobile or other property. Keep Your Bankruptcy Plan Payments Current One of the first steps in declaring chapter 13 bankruptcy involves entering into a three to five year debt repayment plan. Make sure you stay current and do not fall behind on your plan payments. If you fall …

Read more …