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An Overview of Chapter 13 Bankruptcy.

Are you struggling with overwhelming debt and thinking about filing for bankruptcy?
fastfile bankruptcy

An Overview of Chapter 13 Bankruptcy

Are you struggling with overwhelming debt and thinking about filing for bankruptcy? If so, you may want to consider a Chapter 13 bankruptcy. A Chapter 13 bankruptcy is a type of court-approved payment plan that allows debtors to keep their property while they pay off all or part of their debts over the course of three to five years. This article will discuss the benefits of Chapter 13 bankruptcy, who it’s right for, and how to file.

What are the Benefits?

The primary benefit of filing a Chapter 13 bankruptcy is that it allows debtors to keep their property, such as their house or car, while still providing them with the opportunity to discharge some (or all) of their debts. Additionally, filing for Chapter 13 can allow debtors to reduce the amount they owe on secured creditors (such as car loans) by reducing the principal balance on those loans. Finally, once a debtor has completed all of their payments in accordance with their repayment plan, any remaining unsecured debts are discharged.

Who is Eligible for Chapter 13 Bankruptcy?

To be eligible for Chapter 13 bankruptcy, an individual must have enough disposable income each month to make payments towards their repayment plan in addition to paying living expenses. To determine eligibility, courts review an individual’s income and expenses using IRS guidelines. Individuals who do not qualify may be eligible for a different kind of bankruptcy—such as Chapter 7—but this depends on a variety of factors including income level and total amount owed.

How Do I File?

If you believe that you are eligible for a Chapter 13 bankruptcy, the first step is to consult with an experienced attorney who specializes in bankruptcy law. Your attorney will help guide you through the entire process from start to finish and ensure that your paperwork is filed correctly and within the required deadlines. Once your paperwork has been filed with the court, your attorney will help negotiate with creditors on your behalf and ensure that all required payments are made in accordance with your repayment plan.


Filing for Chapter 13 Bankruptcy can provide many benefits if done correctly – from allowing debtors to keep certain assets such as cars or homes while still discharging some or all of their debts over time – but it can also be very complex and difficult without proper guidance from an experienced attorney specializing in bankruptcy law. If you are struggling with overwhelming debt and think that filing for bankruptcy might be an option worth considering, consulting an experienced attorney may be your best bet at getting back on track financially.