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Chapter 13 allows individual wage earners and proprietors of small businesses to obtain three to five years to repay from their disposable income as much as feasible of their debts and obtain a discharge for the balance. The amount you repay must be at least the value of your non-exempt property and will be paid from the portion of your monthly income that exceeds reasonable expenses. Chapter 13 is especially helpful if you owe non-dischargeable debts such as income taxes, alimony, and child support or if you are behind on secured debt such as your home or automobile loan.
We will help you calculate income and expenses, and propose a repayment plan that is suited to your particular situation.