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Chapter 13- Bill Consolidation Bankruptcy

Chapter 13 cases are consolidation or wage earner bankruptcies. These cases are designed for Debtors with assets & equity or the type of debt that can't be discharged, such as mortgage arrearage, auto loans, furniture/appliance/electronic finance accounts, taxes, child support arrearage and student loans.

A Chapter 13 case allows the Debtor to consolidate debt and make a single monthly payment to the Trustee, who in turn pays the Creditors included in the case. So as a Debtor in a Chapter 13 Case, you must have a source of income with which to repay your debt. (Child Support, Government Assistance, Pension/Retirement funds & Unemployment Benefits are all acceptable forms of income).

Although a Chapter 13 case does not permit a Debtor to liquidate unsecured debt entirely, as in a Chapter 7 case, it can result in a significant reduction in the amount paid to unsecured creditors. A Debtor in a Chapter 13 case may be eligible for a reduction of up to 99 percent to unsecured creditors. (So if you have unsecured debt of $10,000.00, you may only be required to pay 1 percent to these creditors or $100.00.)

While in a Chapter 13 case you are not permitted to do many things (that outside of bankruptcy you could do) without permission of the Court, such as buy/sale a home or vehicle. However, if these things can be shown advantageous and/or necessary, you may seek Court permission to enter such arrangements while in a Chapter 13 case.

A Chapter 13 case can last up to 60 months (5 years) and an entry regarding the filing will remain on your credit history for 7 years. Upon its discharge, you are also free to begin reestablishing your credit.

Chapter 13- Bill Consolidation Bankruptcy

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S.S. Brown & Associates, P.C.
4296 Memorial Drive, Suite D
(located in Park Plaza, beside the Kensington Marta Station)

We are open:
Mon, Wed, Thur: 9AM – 5PM
Tuesday: 9AM - 7PM
Friday: 9AM - 3PM
On call Saturdays: 10AM - 2PM

Evening and Weekend Appointments Available

Telephone: (404) 297.2077
Fax: (404) 297.2011
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Home | About Us | Chapter 7 Liquidation Bankruptcy | Chapter 13 Bill Consolidation Bankruptcy
Similarities Between Chapter 7 and Chapter 13 | Fees | Helpful Links
Consultation & Filing Requirements Checklist | S.S. Brown & Associates Office Schedule

S.S. Brown & Associates, P.C. has been designated a Debt Relief Agency by the U.S. Congress and assists consumers in seeking protection under the United States Bankruptcy Code.

 

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