Ch 13 Bankruptcy

Chapter 13 involves creating a repayment plan to pay off some or all of your debts over 3-5 years. This plan is based on your income, expenses, and the types of debts you owe. At the end of the repayment period, any remaining eligible debts may be discharged. A Nashville bankruptcy lawyer can guide you through the process and help create a plan that works for you.

Yes, Chapter 13 is specifically designed to help individuals retain significant assets like a home or car. By including missed mortgage or loan payments in the repayment plan, you can catch up on overdue amounts and avoid foreclosure.

Priority debts, like taxes and child support, must be paid in full during the repayment period. Secured debts, such as mortgages and car loans, are often paid through the plan to catch up on missed payments. Unsecured debts, like credit cards, may be partially repaid, with remaining balances potentially discharged at the end of the plan.