|
• Back •
• Home •
• Up •
• Next •
| |
|
Chapter 13 Bankruptcy is a reorganization
bankruptcy for consumers, in which you partially or fully repay your
debts. In Chapter 13 bankruptcy, you keep your property and use your
income to pay all or a portion of the debts over three to five
years.
Chapter 13 bankruptcy filing is a way for
individuals in the United States to undergo a financial
reorganization supervised by a federal bankruptcy court. The
Bankruptcy Code anticipates the goal of Chapter 13 as enabling
income-receiving debtors a debtor rehabilitation provided they
fulfill a court-approved plan.
An individual has a choice between
filing Chapter 7 or Chapter 13 bankruptcy. The choice should be made
depending upon the financial situation of the individual.
|
|
| |
|
| |
Back
Up
Next
|
