Stop creditors and get more time to pay.
Filing for Chapter 13 bankruptcy stops creditors, lawsuits, wage garnishments, bank levies, and other collection actions immediately, giving you time to restructure your debts. Yes, you’ll pay into a three- or five-year repayment plan in Chapter 13. But your money will go toward the debts that matter most—like your mortgage, car loan, support obligations, and taxes. Remaining debts, such as credit card, medical, and utility bills, usually receive only a fraction of what you owe.
Also, Chapter 13 offers unique debt solutions not available in Chapter 7, sometimes making Chapter 13 the better choice even for those who qualify for Chapter 7. For instance, only in Chapter 13 can filers do the following:
- keep all property
- avoid foreclosure and vehicle repossession
- pay the fair market value for a car, and
- in some cases, eliminate a junior mortgage loan.
This plain-English Chapter 13 guide covers the Chapter 13 process from start to finish, explaining how to determine if you qualify for Chapter 13, what’s required to catch up on your mortgage and keep your home, and how to rebuild your credit after bankruptcy. You’ll also learn more about the following:
- how much you’ll pay in a repayment plan
- which debts get erased when the case ends, and
- how to find and hire the right lawyer
Tabella dei contenuti
Part 1: Is Chapter 13 Right for You? 1.How Chapter 13 Works 2.The Automatic Stay 3. Are You Eligible to Use Chapter 13? 4. Do You Have to Use Chapter 13? 5. Can You Propose a Plan the Judge Will Approve? 6. Making the Decision Part II: Filing for Chapter 13 Bankruptcy 7. Complete Your Bankruptcy Forms 8. The Chapter 13 Plan 9. Filing the Bankruptcy Case 10. Handling Routine Matters After You File Part III: Making Your Plan Work 11. Common Legal Issues 12. Carrying Out Your Plan 13. If You Cannot Complete Your Plan 14. Life After Bankruptcy Part IV: Help Beyond the Book 15. Hiring and Working With a Lawyer 16. Legal Research Glossary Appendixes A: State and Federal Exemption Charts B: Chart and Sample Forms Index
Circa l’autore
Cara O’Neill is a bankruptcy and litigation attorney in Northern California and a legal editor and writer with Nolo. Before joining Nolo, she practiced in the areas of criminal and civil litigation, and bankruptcy. She also served as an administrative law judge and taught law courses as an adjunct professor. She received her law degree from the University of the Pacific, Mc George School, graduating Order of the Barristers—an honor society recognizing excellence in courtroom advocacy. Cara has edited, authored, and coauthored several Nolo books, including How to File for Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, The New Bankruptcy, Everybody’s Guide to Small Claims Court, and Credit Repair.
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