Chapter 13 Bankruptcy: The Automatic Stay’s Effect On Collection

Foreclosures A common reason that individuals file for Chapter 13 bankruptcy is to stop a foreclosure action against their home. A foreclosure can be temporarily stopped with a Chapter 7 bankruptcy, but in a Chapter 13 the foreclosure may be permanently stopped (with...

Chapter 13 Bankruptcy: The Automatic Stay

One of the most beneficial aspects of filing for Chapter 13 bankruptcy is the Automatic Stay. This is an order from the court that goes into effect as soon as you file, protecting you from collection actions by creditors. The automatic stay prevents your creditors...

Chapter 13 Bankruptcy: Making Payments Under the Plan

If you have decided to go the route of Chapter 13 bankruptcy and the bankruptcy judge has confirmed your proposed repayment plan, you will be required to make the first payment within 30 days of the bankruptcy filing. Upon confirmation of your plan, your payment will...

Chapter 13 Bankruptcy: Repayment Plan Basics

In Chapter 13 bankruptcy, it is required that the proposed repayment plan lasts for either three or five years, depending on your financial situation. For those whose average monthly income in the six months prior to filing for Chapter 13 bankruptcy exceeds the median...

Which Debts Are Discharged in Chapter 13 Bankruptcy?

In Chapter 13 Bankruptcy, not all debts are discharged. That said, discharge will not be necessary if you are able to repay your unsecured debt in full over the life of your bankruptcy plan. However, if your plan is set so that you will not repay all of your unsecured...

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Chapter 7, 11, and 13 Bankruptcies

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