Which Month You File Chapter 13 Can Cut Years Off Your Case

Wasson and ThornhillPre-Bankruptcy Planning

If you definitely need a Chapter 13 case, which month you file it can make the difference between your payment plan lasting 3 years or 5.   In two blog posts last month (November 12 and 19) we showed how filing bankruptcy by the end of December 31 might allow you to file a Chapter 7 “straight bankruptcy” case instead … Read More

Beyond Paying Your Chapter 13 Plan

Wasson and ThornhillChapter 13

To finish your case successfully, sometimes beyond paying your Chapter 13 plan you may need to pay a debt directly and do some other things.   The bankruptcy court’s approval of your payment plan (at the Confirmation Hearing) happens about 2-to-4 months after filing your case. At that point your Chapter 13 case is fully on its way. You likely … Read More

General Unsecured Debts in Chapter 13

Wasson and ThornhillChapter 13

Under Chapter 13, unlike Chapter 7, you pay your general unsecured debts as much as you can for 3 to 5 years, although often not very much.   Our last blog post was about how Chapter 7 “straight bankruptcy” deals with “general unsecured debts.” Mostly, they are discharged—legally, permanently written off. There are some exceptions. At the end of the … Read More

How Long Does a Chapter 13 Last?

Wasson and ThornhillChapter 13

Whether you must pay for 3 years or 5 depends mostly on your income. Exactly how long it last depends on the many moving parts of your case.

What Is a Chapter 13 Plan?

Wasson and ThornhillChapter 13

It’s a formal proposal about how much you’ll pay your creditors. It is, often after some adjustments, “confirmed” by the bankruptcy court.