A type of bankruptcy where the consumer must pay off some of their debts over time. Chapter 13 bankruptcy filing records remain on your credit report for 7 years from the discharge date or 10 years from the filing date if it is not discharged. Each account included in the filing will remain on your report for 7 years.
Bankruptcy where you partially or fully repay your debts while retaining your property.
The bankruptcy for consumers, in which debts are partially or fully repaid over a period of three to five years
A type of bankruptcy known as "Wage-earners Plan", in which creditors are repaid a percentage of the debt. Close
The type of bankruptcy which allows homeowners to keep their property but requires them to repay at least some of their debts over a 3 – to 5 – year period.
Payment Plan – A court petition that allows the borrower to enter into a payment plan with the court, usually 3 to 5 years on the arrears of the loan(s) as well as continue with all future payments due the lender.
A type of bankruptcy in which a person keeps his assets and pays creditors according to an approved plan.
A type of bankruptcy where the filer follows a debt repayment plan and assets are not sold.
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.
A court petition that allows you to enter into a payment plan with the court to repay some of all of your debts over a three- to five-year period.
A type of consumer bankruptcy under which the debtor doesn't forfeit personal property but agrees to a three- to five-year wage-earner plan to repay all or part of their debt. A Chapter 13 bankruptcy remains on a credit report for seven years.
Is an interest-free 5 year debt repayment plan whereby the trustee consolidates your debt and pays your creditors. It can save your house from foreclosure or save a car from repossession.
Simply put, is the reorganization of consumer debt with a new payment schedule.
Chapter of the Bankruptcy Code in which debtors repay debts according to a plan accepted by the debtor, the creditors and the court. Plan payments usually come from the debtor's future income and are paid to creditors through the court system and the bankruptcy trustee.
The reorganization bankruptcy for consumers, in which you partially or fully repay your debts. In Chapter 13 bankruptcy, you keep your property and use your income to pay all or a portion of the debts over three to five years. The minimum amount you must pay is roughly equal to the value of your nonexempt property. In addition, you must pledge your disposable net income -- after subtracting reasonable expenses -- for the period during which you are making payments. At the end of the three-to five-year period, the balance of what you owe on most debts is erased.