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LegalCornerTM - Chapter 13 - Plan Bankruptcy F.A.Q.'s

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Q.Who can file for Chapter 13 bankruptcy?

A.Chapter 13 is available only to individuals with regular income (e.g. from wages, self-employment, alimony, pension), whose "Unsecured Debts" (credit cards) are less than $269,250 and whose "Secured Debts" are less than $807,750, and whose proposed five year payment plan provides for the repayment of more debt than would be repaid under a Chapter 7 bankruptcy. Corporations and partnerships are not eligible for Chapter 13.

If you have filed a prior bankruptcy petition and the prior proceeding was dismissed within the last 180 days, you may not be able to file a second petition and should check 11 U.S.C. section 109(g).




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