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Posted on in Chapter 13

As of April 1, 2016 you can have a little more debt and still qualify for a Chapter 13 "adjustment of debts."

Why Debt Limits in Chapter 13?

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We show how filing bankruptcy before the end of December could result in a much shorter Chapter 13 “adjustment of debts.”

Two weeks ago we showed how filing bankruptcy by December 31 could enable certain people to file a Chapter 7 case instead of being forced into a Chapter 13 one. They could have their debts discharged (legally written off) within 3 or 4 months under Chapter 7. Otherwise under Chapter 13 they would be required to go through a 3-to-5-year payment plan. And they would only get a discharge of their remaining debts if they’d successfully make it to the end of that payment plan.

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Chapter 13 helps if you owe divorce debts, have personal property collateral, are behind on property taxes, or owe old and new income taxes.

In the last two blog posts we covered 6 extremely helpful features available only under Chapter 13. Here are 4 more, to make it an even 10. Again, none of these come with Chapter 7 “straight bankruptcy.’

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We’re lingering in the Thanksgiving spirit by appreciating what Chapter 13 has to offer.

Beyond the first 3 we covered a couple days ago, here are 3 more impressive features of Chapter 13 which are completely unavailable under Chapter 7 “straight bankruptcy”:

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It’s way past Thanksgiving but Chapter 13 has many features that make you take notice and appreciate what they can accomplish.


During Thanksgiving week we told you about 10 features of Chapter 7 “straight bankruptcy.” It only seems fair to bring you the same for Chapter 13 “adjustment of debts.” These are mostly ones that are not at all available under Chapter 7. Here are the first 3 of these features, with more to come a couple days from now.

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210-342-3400

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