Under Chapter 13, the debtor proposes a plan to pay his creditors over a 3- to 5-year period. This written plan details all of the transactions (and their durations) that will occur, and repayment according to the plan must begin within thirty to forty-five days after the case has started. During this period, creditors cannot attempt to collect on the individual’s previously incurred debt except through the bankruptcy court. In general, the individual gets to keep his property, and his creditors end up with less money than they are owed.
This information is presented by the Bankruptcy Practice Group of Baxter & Baxter, LLP. The Portland, Oregon bankruptcy attorneys, Hillsboro, Oregon bankruptcy attorneys, and Vancouver WA bankruptcy lawyers of the Bankruptcy Practice Group represent individuals in Chapter 7 and Chapter 13 bankruptcies. We offer a free initial consultation. We can stop collection calls from debt collectors and home foreclosures. We can advise consumers whether to file for bankruptcy, and what form of bankruptcy to file.
For more information about the Bankruptcy Practice Group, click on the links below:
- About Bankruptcy
- Chapter 7 Bankruptcy
- Chapter 13 Bankruptcy
- Common Myths about Filing for Bankruptcy
- Frequently Asked Questions about Filing for Bankruptcy
- Why Should You Hire a Bankruptcy Attorney?
- Eliminating Second Mortgages through Chapter 13 Bankruptcy
- The Process of Filing for Bankruptcy
- Things to Avoid before Filing Bankruptcy
- Stopping Home Foreclosure through Bankruptcy
- Filing for Bankruptcy: A Fresh Start
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