Anthony W. Clark, Attorney and Counselor - Phoenix Bankruptcy Lawfirm Since 1994

Ch 13 is a plan of bankruptcy reorganization where you propose to make a monthly payment that you can afford over a period of time, at least 36 months, to try to repay as much of your debt as you can. In Ch 13, you’ll catch up on back mortgage payments, pay just what your vehicles are worth (not the full amount you owe), even adjust and eliminate certain taxes that would be unaffected by Ch 7. You can also keep certain property that might be sold to pay creditors if you were filing a Ch 7. At the end of the Plan, you are all caught up on your home, your vehicles are paid for, and all your other debts are eliminated. Again, with the exception of student loans and back child support, which will still be owed afterwards and will have continued to accrue interest.