Chapter 13 Bankruptcy Facts

Are you or a loved one unable to pay your debts? Check out these chapter 13 bankruptcy facts for guidance, then call our South Jersey lawyers.

Income Paid to the Chapter 13 Trustee

Chapter 13 Bankruptcy FactsA common question we have from our clients in our South Jersey office is, “In Chapter 13 bankruptcy, how much of my paycheck am I required to use to pay back to my debt?” The answer is there’s no one-size-fits-all solution. Every case is different. We don’t know going into it how much will be going into that repayment plan. If you have any more questions, please contact our office.

Discharging Student Loan Debt

A question that sometimes comes up in our office with Chapter 13 clients is, “In New Jersey, am I able to put my student loans on my Chapter 13 bankruptcy?” The answer is, yes, that can be done, but the real question you need to be asking is if it’s a good idea for you to do that. Does it fit your situation? Does it benefit you? In some cases, it does not benefit you to put your student loans on your Chapter 13 bankruptcy. To determine if this is a good option for you, or to uncover what some of your other options may be, you do need to have a bankruptcy attorney look at your situation. If you have any questions, feel free to contact our office.

Paying Off Debts in Full

A common question we get from our Chapter 13 clients here in our South Jersey office is, “Am I required to pay back all my debts in full? After all, Chapter 13 is a repayment plan.” It depends on what kind of debt it is. Some debts you’re required by federal law to pay back in full, while other debts can be paid for at pennies on the dollar. If you have any questions about what must be paid in full or what will be paid for pennies on the dollar, or if Chapter 13 bankruptcy is right for you, please call our office.

Are you or a loved one unable to pay your debts and have questions about these Chapter 13 bankruptcy facts? Contact experienced South Jersey Chapter 13 bankruptcy attorney Andrew Carroll of All Jersey Bankruptcy today for a free consultation and case evaluation.

We are dedicated to giving you the answers that you need in order to make an informed decision about whether bankruptcy is the best decision option for you.

Watch Us on YouTube