Chapter 13 of the Bankruptcy Code provides for adjustment of debts of an individual with regular income. Chapter 13 allows a debtor to keep property and pay debts over time, usually three to five years.
- Determine how much you’ll pay in Ch. 13.
- Know what your intangible assets are and how to preserve them for yourself.
- Know what’s subject to liquidation and what isn’t.
- Plan for the least amount of asset liquidation.
Chapter 13 plans for the following:
- High Income (Over $10K Monthly Gross)
- Chapter 7 Barred
- At risk of foreclosure due to high delinquency
- Favorable debt adjustment on car loans, credit card and medical debts
- Accurate determination of Ch. 13 plan payment at initial consultation