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Repayment Plan


Debt repayment plans should be reviewed with the help of a bankruptcy lawyer but can generally consolidate the following: student loan payments, credit card payments, personal loans, mortgage loans and vehicle loan payments. The Bankruptcy Court will require the debtor to have a source of income which they can use to meet the obligations of their Chapter 13 Bankruptcy repayment plan. Another benefit of filing Chapter 13 Bankruptcy and creating a debt repayment plan is it can stop a home foreclosure and allow the debtor to make consolidate outstanding mortgage payments.

The bankruptcy repayment plan does not replace current mortgage payments which must be made to the mortgage company. Creating a bankruptcy repayment plan and filing Chapter 13 Bankruptcy also can stop harassing creditor calls, wage garnishments, bank account levies and personal property repossession.

Chapter 13 Bankruptcy discharge is allowed if:

  • All domestic support obligations which were due before making such certification were paid
  • the debtor has not received another bankruptcy discharge before the current bankruptcy case within 2 years for prior Chapter 13 Bankruptcy cases and 4 years for previous Chapter 7, 11 and 12 Bankruptcy cases
  • the debtor has taken and received a certificate of completion for a financial management course.

After the Chapter 13 Bankruptcy plan is completed and the discharge is given the debtor is released from the debts which were outlined in the plan or disallowed (exceptions may exist). The creditors who were paid under the Chapter 13 Bankruptcy plan are barred from continuing their debt collect or legal actions to recover the discharged debts.

More Help on Repayment Plan

  • Chapter 13 Bankruptcy - Chapter 13 Bankruptcy allows the debtor to create a 3 or 5 year bankruptcy repayment plan to restructure their debt payments. - read more

  • Debtor Education - The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) requires Chapter 13 Bankruptcy filers to complete a course in \"personal financial management\" prior to filing for Bankruptcy. - read more

  • Discharge of Debt - Bankruptcy provides a federal process for receiving protection against one\'s creditors and at its completion may allow the debtor to be released from certain types of \"dischargeable\" debt. - read more

Chapter 7 and Chapter 13 Bankruptcy Help

The two most common consumer bankruptcies are Chapter 7 and Chapter 13, our sponsoring lawyers handle these types exclusively so you can be sure you are getting accurate legal advice when you file bankruptcy. Our Bankruptcy attorneys will fight to protect your rights and your property, fight the aggressive and annoying creditors for you, and they can help you keep your home, vehicles and other property.

A lawyer will be committed to getting you debt relief and providing you with valuable information, services and advice to get you a better financial future. There are many convenient locations to make filing bankruptcy or learning about the alternatives we offer, even easier.

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