One other typical form of bankruptcy is Chapter 13 bankruptcy. This will be also known as вЂњwage earnerвЂќ bankruptcy, as you should have a regular income source to be able to apply for Chapter 13 bankruptcy. Simply because in Chapter 13 bankruptcy, you might be repaying the money you owe as time passes, centered on a payment plan, in the place of wiping them all down, like in a Chapter 7 bankruptcy.
you intend to stop a property foreclosure or perhaps a repossession to be able to repay the arrears over 5 years. You don’t be eligible for Chapter 7 as you make way too much earnings (you failed the Means Test). You may not be eligible for Chapter 7 you do not want to liquidate those assets because you have assets worth more than the exemption limits and. Leer más