Also referred to as a “wage-earner” plan, Chapter 13 allows you to repay your debts according to a court-approved repayment plan over a three- to five-year period. Under Chapter 13, you make one payment to your trustee, who is then responsible for distributing the funds to your creditors.
Bankruptcy Chapter 13 vs Chapter 7
The Wage Earner Bankruptcy vs. The Liquidation Bankruptcy
Today there are two common forms of bankruptcy relief, Chapter 7 and Chapter 13. Chapter 13 is sometimes called wage-earner bankruptcy. It seeks to stretch out payments so that they are achievable. Chapter 7 is referred to as liquidation bankruptcy. It is for people who are simply unable to pay their debt no matter how payments might be rescheduled.
Contact our office today to discuss your bankruptcy issues with our experienced Stroudsburg Chapter 13 bankruptcy lawyers. Find a bankruptcy chapter 13 attorney near me. Contact us about filing bankruptcy chapter 13.
We are available 9 a.m. to 5 p.m. weekdays and by appointment. Call us at 570-421-9090, toll free at 800-506-0191 or fill out the online Bankruptcy law contact form to schedule an initial explanatory consultation with an attorney.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.