"What Happens After Chapter 13 Is Paid Off"
When a debtor completes a Chapter 13 bankruptcy plan, the debtor is discharged from most debts. However, some types of debts are not discharged in Chapter 13 bankruptcy. This includes secured debts and priority debts. Secured debts are those where the creditor has a lien on property of the debtor. Priority debts are those that are given special treatment in bankruptcy, such as taxes and child support.
After the debtor is discharged from these remaining debts, the debtor will no longer have to make payments on them. However, the creditor may still be able to collect on the debt through other means, such as wage garnishment or seizure of assets.
The Law Offices of Omar Zambrano has helped thousands of people and them businesses in the past to get out of debt and start over.
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