Chapter 13

(redirected from Chapter 13 Bankruptcy)

Chapter 13

A section of the U.S. Bankruptcy Code that deals with reorganization of debt of wage-earning individuals, including the opportunity to save their homes from foreclosure.

Chapter 13

A form of bankruptcy in which a person or company reorganizes his/her/its debts so they are repaid over a period of three to five years. This form of bankruptcy is most commonly used if one continues to have significant income even though one's debts have become too burdensome. A disadvantage to Chapter 13 is the fact that one's debts are not discharged. However, Chapter 13 may allow one to maintain ownership of assets that would otherwise be liquidated. It is also called a wage earner plan. See also: Chapter 7, Chapter 11, Best interests of creditors test.
References in periodicals archive ?
A Chapter 13 bankruptcy is a reorganization of your debt.
It wasn't a complete victory for Dwelle, who was in the middle of a Chapter 13 bankruptcy reorganization at the time.
A Chapter 13 bankruptcy debtor (Debtor) filed an adversary proceeding seeking a declaration that a creditor's second mortgage lien on his residence was void.
The Law Offices of Howard Warner provide consulting services for Chapter 7 bankruptcy, Chapter 13 bankruptcy, asset repossession and prevention of mortgage foreclosure.
Now in its twelfth updated edition, Chapter 13 Bankruptcy is the definitive guide to the legal proceedings of chapter 13 bankruptcy in America, written especially for lay readers who may be confronting difficult financial decisions.
First, the court has to recognize that a debtor has indeed filed a Chapter 13 bankruptcy petition.
Stufflebean and his wife, Kathryn Bourell-Stufflebean, earlier this month filed for Chapter 13 bankruptcy protection, according to court records.
Individuals may file Chapter 13 bankruptcy petitions if they: (1) reside, have a domicile, a place of business or property in the United States; (2) have a source of regular income; and (3) on the date the petition is filed owe less than $290,525 in non-contingent, liquidated, unsecured debts and less than $871,550 in non-contingent, liquidated, secured debts.
It said that even though it had edited sensitive information in Chapter 13 bankruptcy proof-of-claim forms that were filed electronically, a bug had exposed the information.
14) On appeal, the Ninth Circuit considered whether an undue hardship determination can be made prior to a payment plan nearing completion in a Chapter 13 bankruptcy petition.
lt;p>In notification letters made public, the bank said it had redacted sensitive information in Chapter 13 bankruptcy proof-of-claim forms that were filed electronically, but that the information turned out to be viewable "as a result of the deficiency in the software used to save imaged documents.
A Critique of Congressional Proposals to Permit Modification of Home Mortgages in Chapter 13 Bankruptcy," by Mark S.