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Chapter 13 Archives

How payment plans work in a Chapter 13 bankruptcy

For anyone considering bankruptcy as a form of debt relief, an important early question is whether to choose Chapter 7 "liquidation" bankruptcy or Chapter 13 "payment plan" bankruptcy. While Chapter 7 discharges many debts completely, it may still leave some of your more valuable forms of property, such as a house, or a car, open to the possibility of being sold off in a trustee’s sale as a means of paying creditor claims.

Supreme Court ruling may affect ability to appeal in a bankruptcy

Kentucky residents who are facing overwhelming debt may be interested in one legal limitation that consumers face when seeking a Chapter 13 bankruptcy. A decision from the nation's highest court has clarified when a person has the ability to appeal the bankruptcy court's rulings.

Debts that can't be discharged in Chapter 13 bankruptcy

People in Kentucky who file for Chapter 13 bankruptcy protection may be able to have many of their unsecured debts discharged upon the successful completion of the process. However, there are a few kinds of obligations that are not eligible for discharge under Chapter 13 bankruptcy. Other kinds of debts may not be impossible to discharge, but it could be more difficult under this form of consumer debt relief.

How Chapter 13 bankruptcy affects a mortgage

Kentucky homeowners who are having financial difficulties may be wondering how filing for Chapter 13 bankruptcy affects their mortgage. When this specific type of bankruptcy is filed, the mortgage lender typically wants to prevent the foreclosure process as much as the homeowner.

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