Chapter 13
Under a chapter 13 bankruptcy your debts are reorganized under a plan that will allow you to pay your creditors off in three to five years. When you have filed a Chapter 13 bankruptcy, your debt obligations will be consolidated and you will make a monthly payment to the bankruptcy trustee appointed by the court.
Will I lose my car and house through Chapter 13 bankruptcy?
If your debts cannot be discharged through a chapter 7 bankruptcy, they may
be reorganized through Chapter 13. You will be able to keep your car from
repossession; house and other property from foreclosure.
Will filing a Chapter 13 bankruptcy stop creditor calls?
As soon you have filed your Chapter 13 bankruptcy, your creditors will be
put on notice, the harassing phone calls and other debt collection activity
such as late payment notices will stop.
© 2008 The Flahive Law Coporation. All Rights Reserved.