Who Can File Chapter 13 Bankruptcy?

I. Who Can File Chapter 13 Bankruptcy:

  • Persons can file chapter 13 bankruptcy, but business entities and corporations can’t.
  • If single, you’d file chapter 13 bankruptcy solo. [1]  If you’re hitched, you can file chapter 13 bankruptcy with- or with-out your spouse.
  • If you previously received a discharge in a Chapter 7 Bankruptcy filed within the last 4 years, then you can file a chapter 13 without delay, but you won’t get a chapter 13 discharge.  This means you’d only get dollar-for-dollar credit (rather than penny-on-the-dollar credit).
  • If you previously received a discharge in a chapter 13 bankruptcy filed within the last 2 years, then you can file a chapter 13 without delay, but you won’t get a discharge.  Again, this means you’d only get dollar-for-dollar credit (rather than penny-on-the-dollar credit).
  • In order to qualify for chapter 13 bankruptcy, your secured debt (like mortgages and car loans) must fall short of $1,149,525.  Your unsecured debt [e.g. credit card, medical and “unsecured” second mortgages (where the first mortgage’s payoff is higher than the home value) must fall short of $383,175.  Note: dollar amounts adjust triennially (every 3 years) on… April Fools’ Day– go figure. 

When is it Cool to File Chapter 13 Bankruptcy?

If you satisfy the above conditions, the next step is measuring whether you SHOULD file for chapter 13 bankruptcy.

Need to File Chapter 13 Bankruptcy? Have Bankruptcy Questions? Get the Bankruptcy Answers: Contact us Today. Call 858-240-6751 or Email admin@abramslawsd.com

II. Who Should File Chapter 13 Bankruptcy?

San Diego bankruptcy attorney Asaph Abrams: on chapter 13 bankruptcy eligibility.
Chapter 13 bankruptcy: a good place to light upon.

Chapter 13 bankruptcy brings benefits, which chapter 7 bankruptcy can’t quite boast.  If chapter 13 bankruptcy is your best bet, and you strictly qualify (consistent with filing- and discharge-criteria), the next step is to predict whether your bankruptcy payment plan would pan out. The answer depends on whether you can make minimum monthly payments.

Chapter 13 bankruptcy feasibility (affordability) is tied to whether there’s an income stream, which may be wages, business profits, pensions, or some sort of support: in the end, money is money.  Normally, the dollar number you need pay in chapter 13 bankruptcy follows a sliding scale.  If your total income’s low, you’d likely have nominal chapter 13 bankruptcy payments.  If you make mucho, then that’s all right too: you can keep low chapter 13 bankruptcy payments to the extent expenses offset income.

And in conclusion don’t forget: when filing chapter 13 bankruptcy, your San Diego Bankruptcy Attorney plays the Game (of Loans) to win: our chapter 13 bankruptcy confirmation (bankruptcy court approval) rate is tops.

Chewbacca and San Diego Bankruptcy Attorney
Don’t Fly Solo: San Diego Bankruptcy Lawyer Asaph Abrams

[1] Your San Diego bankruptcy lawyer is the stalwart Wookiee to your Solo, though. Back to Top

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