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A Chapter13 bankruptcy may be filed by individuals with regular income. Debtors must present a plan to repay all or part of their debts. The plan must provide for fixed monthly payments to be made to the Chapter 13 trustee for a period of three to five years, depending on income and other factors.
- Judicial Misconduct & Disability
Congress has created a procedure that permits any person to...
- Debtor Education
It must be filed no later than the last payment made by the...
- Judicial Misconduct & Disability
28 Φεβ 2023 · Chapter 13 Bankruptcy in NJ can be filed by individuals and small proprietors who have regular income and do not exceed the debt limits. This article explores Chapter 13 and discusses what individuals can expect in the process.
26 Αυγ 2023 · Filing for Chapter 13 in New Jersey. Chapter 13 involves repaying creditors some or all of what's owed using a three- to five-year repayment plan. Chapter 13 filers keep everything they own, and the payment plan provides ways to improve sticky financial situations.
Chapter 13 is a reorganization or repayment bankruptcy that allows the debtor to enter into an interest-free debt repayment plan to pay back all or some of the debtor's debts over a 3 to 5 year period. During this time, creditors must abide by the plan and are not permitted to collect from you or contact you.
Chapter 13 Filing Guide. IMPORTANT INFORMATION YOU MUST KNOW BEFORE FILING A BANKRUPTCY PETITION. BEFORE YOU FILE FOR BANKRUPTCY, YOU MUST OBTAIN CREDIT COUNSELING AND INCLUDE AN OFFICIAL CREDIT COUNSELING CERTIFICATE WITH YOUR PETITION. CLICK HERE TO VIEW APPROVED CREDIT COUNSELING AGENCIES.
Sometimes called “reorganization” or a “wage earners plan,” a Chapter 13 bankruptcy is designed to allow a person to rebuild their economic position over a period of years, usually three or five years.
17 Ιουλ 2023 · Navigating the Chapter 13 timeline requires careful planning, adherence to court requirements, and the guidance of a qualified bankruptcy attorney. Understanding the stages, from pre-filing preparation to discharge and post-bankruptcy recovery, helps individuals effectively navigate the process.