Filing for Chapter 13 bankruptcy means that the debtor can join all of his debts into one lump sum and make regular payments to the bankruptcy trustee. A plan is put into place for repayment of the debts over a period of time, ranging from three to five years. The terms of the repayment, including monthly payment amount and duration of repayment period, is based upon these criteria:
- Debtor’s income per month
- Debtor’s monthly expenses
- Total amount of debt
- Type of debt
Contact us at (888) 533-4384 to schedule an appointment for Chapter 13 bankruptcy help!
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