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Bankruptcy Chapter 13

What If You Can't Pay The Agreed To Schedule?

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If you can't pay the agreed to schedule because of a crisis such as a job loss or illness:

You can ask the court to revise the repayment plan. The court can grant a hardship discharge which wipes out most of your debt. Alternatively, (and this is why you can't rely on the possibility of discharge), the court could just dismiss the case entirely. In that case, you will be back where you started -- subject to creditor collection efforts that were stopped by the bankruptcy.

If you can't pay because your income drops:

You can ask the court to convert the case to a Chapter 7 bankruptcy. To learn more, see Chapter 7 Bankruptcy.

Reviewed by: Michael Menkowitz, Esq. Fox Rothschild, LLP Philadelphia, PA


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