Chapter 13

Chapter 13 is a financial reorganization of your debt.  It is sometimes referred to as a bankruptcy “consolidation”.  In a Chapter 13 you can repay all or part of your debt depending on what your qualify for and the type of debt.  Often the reason for filing a Chapter 13 Plan of Reorganization is to assist in catching up on secured debt, like house or car payments, if a persons is not eligible to file a Chapter 7, if the debt is not eligible to be eliminated in a Chapter 7, or if a person wants to avoid losing property they would have otherwise lost filing a Chapter 7.  

The term of a Chapter 13 will range from 36 to 60 months.  What term will apply to your case will depend on many factors that your attorney will discuss with  you.  The amount of your monthly Chapter 13 payment will similarly depend on the circumstances of your case and will be discuss with you.