Monday, May 7, 2012

HOW LONG IS A CHAPTER 13 REPAYMENT PERIOD?

As discussed before, in a Chapter 13 bankruptcy you are required to repay a portion of the debt to the bankruptcy trustee who then distributes the payment to the creditors.  Exactly how long your repayment plan is depends on your assets, income, and debts.  It will be between 36 and 60 months, and you are required to make that payment every month, or else the bankruptcy will be dismissed without any reduction or discharge of the underlying debts. 

http://www.westmontattorneys.com

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