Chapter 13 is a debt reorganization plan where debts are repaid under a court-supervised repayment plan. Debtors submit part of their income for distribution among creditors. Also known as the wage-earner plan.
"Wage earner plan" where an individual debtor files a budget with the court and agrees to make partial payment to creditors over a three-to-five year period.
Called the "wage earner" bankruptcy, this is available to individuals who promise to repay as many debtors as possible from available income.
Bankruptcies filed under Chapter 13 of the Bankruptcy Code are known as "the wage earners bankruptcy." A court-approved budget and repayment plan is set up based on your regular income. A trustee is appointed to make sure you honor the terms of your repayment plan.
Wage earner plan. Designed for persons with regular income who might be able to pay all or a portion of their debts given certain protections of the court.
A repayment plan on debt owed to creditors. A payment plan is setup for 3-5 years by the court to make partial payments to the creditors.
the chapter of the Bankruptcy Code allowing a person's future earnings to be collected by a trustee and paid to unsecured creditors; a plan filed under Chapter 13 is sometimes called a wage-earner's plan, a wage-earner plan, or an income-based plan.
A form of bankruptcy protection that involves a reorganization of assets and debts rather than strict liquidation. Chapter 13 provides for debtor rehabilitation in order to deliver the most payment to the most creditors.
In a Chapter 13 agreement, the court creates a debt repayment plan that allows the filer to keep their property. In order to file Chapter 13, a person must have a source of income and promise to pay part of their income to creditors. The court allows the filer to keep any assets that have debts against them if they pay them off under terms determined by the court. A Chapter 13 filing will remain on a credit report for 10 years. With Chapter 13, there is a better chance of obtaining future loans and credit.
Chapter 13 is for wage earners with assets they want to protect. In this chapter you submit a plan for reorganization of their debts. The bankruptcy filing gives you protection from your creditors while you are paying off the debts listed in the plan either in full or in part. Chapter 13 provides for a more favorable discharge than Chapter 7 when there are assets.
A proceeding in which an individual debtor has a repayment plan for debts falling below statutory levels.
The operating chapter of the bankruptcy code whereby individuals, or husband and wives, with regular incomes may pay payments in lieu of giving up assets to obtain bankruptcy relief.
Bankruptcy whereby an individual sets up a plan with their debtors to pay their debts under a repayment plan administered by the court.
Chapter 13 has long been referred to as the "Wage Earners' plan." It allows a debtor with disposable income to propose a plan in order to pay the creditors in full or in part. The plain is three or five years and the percentage of pay back could range from 0% to 100%. A Chapter 13 cannot be filed if debtor has unsecured debts of more than $269,250 or secured debts of more tan $807,750 (these limits will adjust again on April 1, 2001; see Section 104(b) Title II, U.S.C.).
Chapter of the Bankruptcy Code addressing financial rehabilitation for an individual with a proven income who can eventually repay at least most owed debts. Chapter 13 is designed to give individuals a fresh start and allow a reorganized payment plan suitable to all parties. Chapter 7 Chapter of the Bankruptcy Code addressing liquidation of an individual's personal assets. Chapter 7 is designed to discharge all of an individuals unsecured debts and offer creditors a partial compensation by liquidation of the debtor's non-exempt property. up
In this type of bankruptcy debtors with regular income pay back some of their debts over a 36 to 60 month period. A Chapter 13 allows you to keep your home from being foreclosed on by allowing you to make up late payments. Also called wage-earner bankruptcy or personal reorganization bankruptcy.
Chapter13 bankruptcy is filed by individuals who want to pay off their debts over a period of three to five years. This type of bankruptcy appeals to individuals who have non-exempt property that they want to keep. It is also only an option for individuals who have predictable income and whose income is sufficient to pay their reasonable expenses with some amount left over to pay off their debts.
A consumer bankruptcy that reorganizes debts into a court-approved repayment plan with a specified length.
a re-organization for individuals who have debts that are below the statutory levels in which they propose a plan that pays back creditors in varying amounts depending on the type of debt and income over three to five years.
Bankruptcy involving the adjustment of debts for someone with regular income.
May only be filed by an individual debtor with limited debt. In essence, it allows a payment plan for an individual's financial and/or business debts.
This is a reorganization/repayment plan for individuals or families with regular income. In a Chapter 13, the debtors pay money to the Trustee under a court-approved repayment plan. The plan will generally run from 36-60 months. Chapter 13 bankruptcies are voluntary.
A type of bankruptcy, which is a reorganization of debt.
Chapter 13 is an interest-free debt repayment plan through which you consolidate your debts and make a payment on your debt over a 3 to 5 year period. This type of bankruptcy is often used to save a house from foreclosure or to save a car from repossession.
One of the bankruptcy chapters in the federal Bankruptcy Code. Under Chapter 13, a wage earner can reduce debt payments through a bankruptcy court order according to the terms of a plan approved by the bankruptcy court.
The chapter of the Bankruptcy Code providing for adjustment of debts of an individual with regular income. (Chapter 13 allows a debtor to keep property and pay debts over time, usually three to five years.)
This type of bankruptcy allows a person to retain assets in exchange for making reduced payments in accordance a trustee-approved plan.
A repayment plan for individuals with debts falling below statutory levels which provides for repayment of some or all of the debts out of future income over 3 to 5 years.
This is a "reorganization" or "debt adjustment." bankruptcy. This type of bankruptcy allows a person to pay debts, or parts of debts, from current income over a period of up to five years.
The section of the U.S. bankruptcy code which allows an individual to begin paying back debt without forfeiting property. Chapter 13 mandates that the debtor maintain a source of income and stick to a payment schedule set forth by the court.
bankruptcy proceedings for an individual with the intention of rescheduling the individual's debt (rather than liquidating the individual's assets and debt; an individual files under Chapter 7 to liquidate); Chapter 13 is referred to as wage-earner bankruptcy, personal bankruptcy or consumer bankruptcy; Chapter 13 cannot be used by a partnership or a corporation; it can be used by a sole proprietorship.
An adjustment of debts of an individual.
A type of bankruptcy plan where the debtor repays the creditor on a scheduled three-to-five year period. Also called "wageearner plan."
Adjustments of debts of an individual with regular income under the Federal Bankruptcy Code. Chapter 13 enables a debtor who is an individual to develop and perform a plan for the prepayment of creditors over an extended period. The plan might provide for full or partial repayment. Chapter 13 allows the debtor to retain his or her property, unless he or she agrees otherwise in the plan. See Bankruptcy.