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
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
Smart timing of your Chapter 13 “adjustment of debts” case can sometimes allow you to finish your payment plan faster and save lots of money. Chapter 7 vs. Chapter 13 Two days ago we showed the importance of timing in the filing of a Chapter 7 case. The timing can affect whether you can qualify to be in a … Read More
Before committing to a Chapter 13 “adjustment of debts” it’s good to know that its plan can likely be “modified” if your situation changes.