How Long Does Chapter 13 Bankruptcy Take?
Chapter 13 bankruptcy is often called the "wage earner's plan" because it provides a way for debtors to keep their property and repay their creditors over time.
The debtor proposes a repayment plan to the court that lasts three to five years. During this time, the debtor makes payments to a trustee who then distributes the funds to creditors. Creditors are not allowed to contact the debtor during this time.
Chapter 13 bankruptcy can be a lengthy process, but it provides debtors with protection from their creditors and a chance to repay their debts over time.
If you are considering filing for Chapter 13 bankruptcy, be sure to speak with an experienced bankruptcy attorney who can help you navigate the process and protect your rights.
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