Chapter 13

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Dictionary Says

Definition of 'Chapter 13'

A U.S. bankruptcy proceeding in which the debtor undertakes a reorganization of his or her finances under the supervision and approval of the courts. As part of the reorganization, the debtor must submit and follow through with a plan to repay outstanding creditors within three to five years. In most circumstances, the repayment plan must provide a substantial payback to creditors - at least equal to what they would receive under other forms of bankruptcy - and it must, if needed, use 100% of the debtor's income for repayment.
Investopedia Says

Investopedia explains 'Chapter 13'

Chapter 13 bankruptcy differs from the outright foreclosure of an individual's or business's assets (seen in Chapter 7 bankruptcy) and the expensive and complicated restructuring of debts seen in Chapter 11 bankruptcy. Essentially, Chapter 13 allows a debt-laden person or sole proprietorship that still has significant income to submit an orderly plan to the courts to pay back debts over a few years. Doing so can provide advantages to the debtor not found in other forms of bankruptcy, such as preventing the foreclosure of a residence.
Search results for

'Chapter 13'

  • Bankruptcy Filing Changes That Could Affect You

    http://www.investopedia.com/articles/pf/09/update-bankruptcy-laws.asp
    ... Changes to the Laws in 2005 In 2005, the new bankruptcy laws made changes to
    filing Chapter 7 (liquidation) and Chapter 13 (repayment). ...

  • What effect did the Bankruptcy Abuse Prevention and Consumer ...

    http://www.investopedia.com/ask/answers/08/bankruptcy-abuse-prevention-act.asp
    ... Now, debtors are required to file under the less attractive Chapter 13,
    which amounts to a court-ordered repayment plan. The scales ...

  • Changing The Face Of Bankruptcy

    http://www.investopedia.com/articles/pf/08/bankruptcy-act.asp
    ... Most debtors with incomes above the mean will be limited to chapter 13 bankruptcy,
    which does not allow them to escape their debt altogether via sale of assets ...

  • How To Survive A Bankruptcy Filing

    http://www.investopedia.com/articles/pf/11/how-to-survive-bankruptcy.asp
    ... Choosing Between Chapters You don’t actually choose what chapter to file bankruptcy
    under. Most people will be placed under Chapter 7 or Chapter 13. ...

  • What happens to a company's stocks and bonds when it declares ...

    http://www.investopedia.com/ask/answers/06/chapter11stocksbonds.asp
    ... is complex and expensive, most companies, if given the choice, prefer chapter 11
    to other bankruptcy provisions such as chapter 7 and chapter 13, which cease ...

  • Life After Bankruptcy

    http://www.investopedia.com/articles/pf/07/after-bankruptcy.asp
    ... If you file a Chapter 13 bankruptcy instead, this kind of bankruptcy will often
    disappear from your credit report after only seven years. ...

  • What You Need To Know About Bankruptcy

    http://www.investopedia.com/articles/pf/07/bankruptcy.asp
    ... Which chapter is right for you? Depending on your circumstances, you can choose
    to file between Chapter 7 and Chapter 13 under the bankruptcy law. ...

  • Credit And Debt Management: Debt Collection And Bankruptcy ...

    http://www.investopedia.com/university/credit-debt-management/management6.asp
    ... obligations. To get a fresh start, individuals are able to declare one of
    two forms of bankruptcy: chapter 7 or chapter 13. According ...

  • Fend Off Foreclosure - With Bankruptcy? - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/0110/Fend-Off-Foreclosure---With-Bankruptcy.aspx
    ... making a decision. How It Works There are two main types of personal
    bankruptcy - Chapter 7 and Chapter 13. Chapter 7 bankruptcy ...

  • Should You File For Bankruptcy?

    http://www.investopedia.com/articles/pf/08/bankruptcy-filing.asp
    ... There are several reasons why it might make sense to take the plunge and file for
    Chapter 7 bankruptcy or Chapter 13 bankruptcy, but making this decision is ...

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