Different types of debts are paid in different ways in a Chapter 13 bankruptcy. The Bankruptcy Code classifies creditor claims and requires your Chapter 13 plan to pay these different classes of claims in particular ways.
Sometimes you want to, or have to, incur new debt after you’ve filed for Chapter 13 bankruptcy. Often the best course of action is to get court approval for the new debt (called a post-petition debt) before you incur it. But this isn’t always possible.
Certain debts that cannot be discharged in Chapter 7 can be discharged in Chapter 13. Read on to learn which ones. (For a complete list of debts that cannot be discharged in Chapter 7, see Nondischargeable Debts in Chapter 7 Bankruptcy.) Debts That You Can Discharge in Chapter 13 (But Not Chapter 7)
If you are behind on child support payments, filing for Chapter 13 bankruptcy will not discharge your obligations -- but it can help you to get caught up. However, keep in mind that you still need to make your ongoing child support payments during your Chapter 13.
If you file for Chapter 7 or Chapter 13 bankruptcy, what happens to any loans you may have taken out from your retirement plan or pension fund? If you have taken a loan from your retirement plan and are considering bankruptcy, two questions may arise. Will the loan be discharged (cancelled) at the
If you file Chapter 13 bankruptcy and you owe money to a homeowner's association (HOA), there are special considerations you should keep in mind. What happens to HOA dues and whether you should pay them depends on a combination of: your intention to keep or surrender the home in the Chapter 13 bankruptcy
Chapter 13 bankruptcy divides debts into several categories. How much you must pay on each type of debt differs. General unsecured claims in Chapter 13 bankruptcy are those debts that are not secured and not deemed as "priority" by bankruptcy law.
In Chapter 13 bankruptcy, you reorganize and pay back a portion of your debts through a repayment plan. Congress has deemed certain debts important enough to receive special treatment in your Chapter 13 plan.
An unsecured debt is an obligation or debt that does not have specific property serving as collateral for payment of the debt. If you fail to make payment on an unsecured debt, the creditor cannot take any of your property without first suing you and getting a court judgment.
If you are behind on secured debt payments (such as your mortgage or car loan), Chapter 13 bankruptcy can help you cure your default or pay off your loan through a repayment plan. Read on to learn more about how Chapter 13 can help you catch up on your secured debt payments.