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 ?
Previous data collected during the 2007 meltdown of the subprime mortgage market showed that African Americans were approximately twice as lively to file chapter 13 bankruptcy than persons of other races, a significant policy issue given the generally less generous rules in chapter 13.
Unlike Chapters 7 and 11, Chapter 9 must be voluntarily initiated by the municipal unit, as is the case with Chapter 13 bankruptcy (11 USC 301 and 303).
The late Elias, an author and bankruptcy lawyer, and Dzikowski, a bankruptcy lawyer, offer a guide to Chapter 13 bankruptcy.
Pepper Minthia Hardy, sole provider for a family of four, (10) filed for Chapter 13 bankruptcy in October 2012.
IN CHAPTER 7 AND CHAPTER 13 BANKRUPTCY CASES, a proof of claim is a written document that notifies the bankruptcy court and other related parties that a creditor wishes to assert its right to receive a payout from the bankruptcy estate.
It wasn't a complete victory for Dwelle, who was in the middle of a Chapter 13 bankruptcy reorganization at the time.
Using differences in judges' leniency as a variable for bankruptcy protection, Dobbie and Song find that Chapter 13 bankruptcy protection does in fact benefit debtors.
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.
This article focuses on Chapter 13, after briefly describing the key differences between Chapter 7 and Chapter 13 bankruptcy proceedings.
convert to Chapter 13 bankruptcy, although, as this Note explains,