Under Chapter 13 bankruptcy, you use a portion of your income to pay some or all of what you owe to your creditors over time. To begin a Chapter 13 bankruptcy, you must complete a credit counseling course and then fill out your application. You must include in your application a workable plan to repay some or all of your debts over the plan period. Under a Chapter 13 plan, you are required to devote your projected disposable income to your plan for either a three or five year period. Your projected disposable income is based on your projected income minus your projected allowable expenses. You make monthly payments to the bankruptcy trustee who uses that money to pay the creditors covered by your plan and to pay his fee.
Our bankruptcy attorneys will assist you in every step of the bankruptcy process including filing the bankruptcy application, determining eligibility for Chapter 13, assisting you with creating a workable repayment plan, and determining which of your debts are dischargeable. |
