Chapter 13 Personal Bankruptcy
Summary & tips for understanding Chapter 13 laws in consumer personal bankruptcy cases
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Chapter 13 Personal BankruptcySummary & tips for understanding Chapter 13 laws in consumer personal bankruptcy cases
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Chapter 13 Personal Bankruptcy Law SummaryPlan terms vary between 3 to 5 years. A plan lasting more than three years must be approved by the court "for cause." All chapter 13 plans are currently limited to a maximum of 5 years. 11 U.S.C. 1322(d). Individuals, including self-employed owners of sole proprietorships, are authorized to file chapter 13 if owing less than $269,250 in unsecured debts, and less than $807,750 in secured debts. 11 U.S.C. 109(e). See also: |