Chapter 13 Bankruptcy - Personal Reorganization

Sacramento Bankruptcy Lawyer, Sacramento Bankruptcy Attorney

Chapter 13 is the debt repayment chapter for individuals with regular income whose debts do not exceed $1,347,550 ($336,900 in unsecured debts and $1,010,650 in secured debts), including individuals who operate businesses as sole proprietorships. It is not available to corporations or partnerships. Chapter 13 generally permits individuals to keep their property by repaying creditors out of their future income. Each chapter 13 debtor proposes a repayment plan which must be approved by the court. The amounts set forth in the plan must be paid to the chapter 13 trustee who distributes the funds for a percentage fee. Many debts that cannot be discharged can still be paid over time in a chapter 13 plan. After completion of payments under the plan, chapter 13 debtors receive a discharge of most debts.

If you are in need of expert legal counsel, contact the bankruptcy lawyers at Brooks & Carpenter. We proudly serve Sacramento area and entire Northern California.

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If you are in need of expert legal counsel, contact the bankruptcy lawyers at Brooks & Carpenter. We proudly serve Northern California.

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