Chapter 13

Chapter 13 of the United States Bankruptcy Code, codified under Title 11 of the United States Code, governs a form of bankruptcy in the United States that allows individuals to undergo a financial reorganization supervised by a federal bankruptcy court. The goal of Chapter 13 is to enable income-receiving debtors a debtor rehabilitation provided they fulfill a court-approved plan. This is in contrast to the goals of Chapter 7, which offers immediate and complete relief of many oppressive debts. Chapter 13 is a form of debt consolidation.
Posts about Chapter 13
    • It Might Be Time for a Chapter 13

      One of the most common ways to pay off accumulated medical bills and credit card debt is to take a home equity line of credit, or HELOC, on your home. According to a recent CNBC article by Diana Olick, homeowners are sitting on trillions of dollars in cash. How Is This Possible? In the third quarter of 2017, the amount of equity homeowners reached was at an all-time high of $5.5 trillion.

      Bond and Botes- 10 readers -
  • Incurring a Debt During a Chapter 13

    … If you have filed chapter 13, you should know that you cannot incur a debt without the bankruptcy court’s permission during the life of your bankruptcy. We understand that situations may arise where you may need to incur a debt. The most common situations that arise where a debt may need to be incurred are: refinancing your current home…

    Mary Pool/ Bond and Botes- 11 readers -
  • Modifying a Chapter 13 Bankruptcy Plan

    … As you can see from our information page, a Chapter 13 bankruptcy case is a form of debt consolidation. It allows you to reorganize your debts so they are easier to repay, and in some circumstances can reduce the overall amount of debt that is actually repaid. However, one of the aspects of a Chapter 13 case that can cause people worry…

    Nick Gajewski/ Bond and Botes- 15 readers -
  • What is an Insider Payment?

    … that money as a preferential transfer, you may be able to offer to pay the chapter 7 trustee a lump sum directly instead of having her file an adversary proceeding against your Dad. Chapter 13 Trustee The chapter 13 trustee will require that you pay your unsecured creditors in your plan the same amount that you paid to insider(s) within one year…

    Mary Pool/ Bond and Botes- 10 readers -
  • When Is Chapter 13 Bankruptcy Right for Me?

    … will generally not help with such secured debts. Contact a St. Louis and St. Charles Bankruptcy Attorney for More Information Today At the Law Offices of Kenneth P. Carp, our St. Louis bankruptcy lawyer will carefully review your situation and determine which type of bankruptcy is right for you. Call us today at (636) 947-3600 for assistance. 1http… 18 readers -
  • When do you Object to a Proof of Claim Filed by a Creditor in your Chapter 13?

    …, not to mention your mortgage and vehicle loans please call one of our conveniently located offices at Bond & Botes first and set up a private consultation with one of our experienced attorneys. We will analyze your situation and help you make the best decision possible to help you navigate your financial problems. The post When do you Object to a Proof of Claim Filed by a Creditor in your Chapter 13? appeared first on Bond & Botes. …

    Grant Mcnutt/ Bond and Botes- 10 readers -
  • Do You Qualify for Chapter 13 Debt Consolidation?

    … This is one of the most common questions I’m asked. Debt consolidation (or Chapter 13 Bankruptcy as it is technically known) is one of the most common types of bankruptcy cases, and many people are familiar with how it works. We have written before about many of the details of Chapter 13 Debt Consolidation, but today I wanted to address the issue…

    Nick Gajewski/ Bond and Botes- 11 readers -
  • Options If You Can’t Make Your Chapter 13 Payment?

    … to be replaced? Each scenario presents different answers. Suspend a Chapter 13 Payment Plan For instance, if it is a temporary job loss or an unexpected expense, a simple motion to suspend your Chapter 13 plan payment for up to 3 months could be a very straightforward solution to the short-term problem. Modify or Convert If it is a permanent job loss or maybe…

    Grant Mcnutt/ Bond and Botes- 21 readers -
  • Should You Convert or Modify a Chapter 13 Plan?

    … Many clients who file Chapter 13 may find their circumstances change as the years tick by in a five year Chapter 13 plan. They may get a divorce, have a new baby or their child may head off to college. With those life changes, the financial picture changes too. What Options Are Available? The best thing you can do is call your attorney. Your…

    Gail Donaldson/ Bond and Botes- 18 readers -
  • What is the Confirmation Hearing in a Chapter 13 Bankruptcy?

    … Once you have attended your 341 Hearing, that is typically the last hearing you as a Debtor will have to attend. However, your attorney must attend one final very important hearing called the Confirmation Hearing. The Confirmation hearing is in essence the final stamp of approval if you will on your Chapter 13 Plan by the Judge. While you…

    Grant Mcnutt/ Bond and Botes- 26 readers -
  • Calculating Chapter 13 Plan Payments

    … A Chapter 13 bankruptcy (also known as a Debt Consolidation) will bundle together all of a person’s debts so that the person filing makes only one payment per month to the Court. From there, the Court handles paying each of your creditors what they are supposed to receive under the bankruptcy laws. But how does the Court determine the amount…

    Nick Gajewski/ Bond and Botes- 16 readers -
  • How, When & Where of the Chapter 13 Plan Payment

    … Chapter 13 is a section of the Bankruptcy Code that allows individuals and small business owners in financial difficulty to repay their creditors. When you file a Chapter 13 Bankruptcy Petition with your Bankruptcy Lawyer, one of the documents you will file is called the Chapter 13 Plan. That Plan sets out how your Secured creditors…

    Grant Mcnutt/ Bond and Botes- 19 readers -
  • Fresh Start with Your Mortgage – Post Bankruptcy

    … The goal every debtor has after filing bankruptcy is simple—a fresh start! Chapter 7 Bankruptcy offers a fresh start much quicker than Chapter 13 simply because the unsecured creditor’s debts are erased and allows you to pay for the debts you want to keep direct such as a mortgage or car payment. In Chapter 13, a plan typically is five years…

    Gail Donaldson/ Bond and Botes- 18 readers -
  • How Does Chapter 13 Bankruptcy Work?

    … How Does Chapter 13 Bankruptcy Work? Posted on Aug 26, 2016 By Ed Woods August 26, 2016 by Ed Woods One very powerful remedy that financially strapped consumers have is a discharge pursuant to Chapter 13 of the federal Bankruptcy Code. Chapter 13 bankruptcy is so named because it is Chapter 13 of Title 11 of the United States Code. Title 11…

    Ed Woods/ Bond and Botes- 39 readers -
  • Getting From Point A to Point B With Money

    …. The least popular option for getting out of debt is, for the most part, the cheaper, better, and faster way to get out of debt; Bankruptcy. If you haven’t already clicked on the links in the second paragraph, take a moment now to do it. In those articles, I run through the math on the savings by pointing out that someone who files a Chapter 7 bankruptcy…

    Christine Kingston/ Los Angeles Bankruptcy Law Monitor- 25 readers -
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