Chapter 13 bankruptcies are known as "the wage earner section" because you have to have an income to use it. Income can include income from a job, self-employment or a family member who agrees to help out.

Under Chapter 13, you are allowed a three to five year repayment plan which details which creditors get paid what each month.

Unlike Chapter 7, Chapter 13 can wipe out back taxes, child support or student loans.

Please share how this information is useful to you. 0 Comments