About Our Chapter 13 Bankruptcy Practice

Chapter 13 bankruptcy is a more powerful chapter than Chapter 7 and can be used for individuals to pay back mortgage arrears, tax debt, and certain other kinds of secured and priority debt over a 3-5 year payment plan. Chapter 13 bankruptcy is also useful for individuals who have unprotected equity in a home, or other valuable assets that a Chapter 7 trustee may seize, sell and distribute the funds to creditors.

The amount of the Chapter 13 payment depends on many factors, including income and expenses, unprotected equity in real and personal property, and ensuring that the plan funding is sufficient to pay back required secured and priority debts. To learn more about the Chapter 13 repayment plan, read our article "Understanding the Chapter 13 Payment Plan".

Chapter 13 allows restructuring of debt, including secured debts such as mortgages and car loans through lien stripping and cramdowns.