In a Chapter 13 Wage Earner Plan you make payments each month for a specified period of time, often five years.
If you get divorced, you could continue making the payments until the plan is completed. If you are unable to continue making the payments, it may be possible to convert to a Chapter 7 bankruptcy, although your income and other factors must be considered. Your bankruptcy attorney will advise you if converting to Chapter 7 is a viable option in your case.
1 Comments:
In a Chapter 13 Wage Earner Plan you make payments each month for a specified period of time, often five years.
If you get divorced, you could continue making the payments until the plan is completed. If you are unable to continue making the payments, it may be possible to convert to a Chapter 7 bankruptcy, although your income and other factors must be considered. Your bankruptcy attorney will advise you if converting to Chapter 7 is a viable option in your case.
By Bankruptcy Expert, at 12:02 PM
Post a Comment
<< Home