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    • Bankruptcy Lawyer
    • Services
      • Chapter 7 Bankruptcy Help
      • Chapter 13 Bankruptcy
      • Chapter 11 Bankruptcy
      • FDCPA-TCPA
    • Student Loans
    • About Kurt
    • FREE Budget Analysis
    • Blog
    • Contact
Bankru
  • Bankruptcy Lawyer
  • Services
    • Chapter 7 Bankruptcy Help
    • Chapter 13 Bankruptcy
    • Chapter 11 Bankruptcy
    • FDCPA-TCPA
  • Student Loans
  • About Kurt
  • FREE Budget Analysis
  • Blog
  • Contact
filing for bankruptcy

Chapter 13 Bankruptcy

What Is Chapter 13?

Chapter 13 is a bankruptcy proceeding in which debtors file a plan to pay all of their disposable income, income minus living expenses, to a Trustee who pays the creditors according to the terms of the Plan as approved by the Court. 


Individuals and married couples, even if self-employed or operating an unincorporated business, are eligible to file for Chapter 13 bankruptcy.


You must have disposable income but any source is acceptable – even contributions from your spouse if you are not employed.


Your plan must run at least 3 years – unless your creditors are paid 100% before that.  Your creditors must also receive at least what they would get IF you were in a Chapter 7 bankruptcy.
 

MYTH-BUSTING CHAPTER 13
 

Some folks think that Chapter 13 requires you to pay back everything owed to your creditors.  

This is NOT true. 


In some cases, unsecured creditors get ten cents or less on the dollar. DO NOT TRY TO FIGURE THIS OUT ON YOUR OWN. IN Chapter 13, You keep ALL your stuff, exemptible or not.
 

CALL ME TODAY FOR A FREE CONSULTATION: 313-962-4630

Learn More

Bankruptcy can be extraordinarily complicated. With so much on the line, it is wise to consult with Kurt O'Keefe, a qualified bankruptcy attorney to guide you through the process and decide which type of bankruptcy is right for you.

Get A Fresh Start

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