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Posted on in Chapter 13

If protecting your co-debtor from having to pay your debt is a high priority, Chapter 13 has a remarkable tool for doing that.

Chapter 7 Doesn’t Always Help

Our last blog post was about helping your co-signer through a Chapter 7 “straight bankruptcy” case. You discharge (legally write off) most or all your other debts. Then you may be able to afford to make payments on your co-signed debt.

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Chapter 13 vehicle loan cramdown solves a number of serious practical problems that even Chapter 7 “straight bankruptcy” can’t.

Chapter 13 REALLY Helps with Vehicle Loans

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The laws about the treatment of different types of creditors can often be used in your favor to pay who you want or need to pay.


Your Chapter 13 payment plan has to treat debts that are legally the same type of debts essentially the same way. But your plan can and must treat different types of debts quite differently. The laws related to this can be used to your advantage in many, many ways. Today we begin showing how this works with each of the three major types of debts.

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Posted on in Chapter 13

Chapter 13 is very different from Chapter 7 “straight bankruptcy.” It buys you time to deal effectively with your special debts.


The Main Overall Benefit of Chapter 13

The main benefit of Chapter 7 “straight bankruptcy” is the discharge—legal write off—of your debts.

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You can file a Chapter 13 case if you are an “individual,” have “regular income,” and don’t owe too much.


If you qualify, a Chapter 13 case is an extraordinarily powerful tool for dealing with certain kinds of debts. For example:

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210-342-3400

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