Chapter 13 Bankruptcy Attorney Serving Valparaiso, Chesterton, Michigan City and Northwest Indiana
Chapter 13 Bankruptcy: Individual Reorganization
If you have a steady income but are overwhelmed by debt payments on items purchased on credit, Chapter 13 bankruptcy may give you the opportunity to resolve your debts and keep your assets. People who don't qualify for Chapter 7 bankruptcy because of their income level may also consider filing Chapter 13 bankruptcy.
Key Points:
- You generally get to keep your assets, including home and car.
- Repayment plans are between 36 and 60 months.
- You must submit a repayment plan to the court for approval.