What does Chapter 13 bankruptcy consist of?
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What does Chapter 13 bankruptcy consist of?
Asked on February 5, 2013 under Bankruptcy Law, Oklahoma
Answers:
S.L,. Member, California Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Chapter 13 bankruptcy requires a plan (budget) for repayment of creditors. A bankruptcy trustee approves the plan (budget). Payments are made to the creditors in accordance with the terms of the plan (budget). The plan may allow for full or partial repayment of debts over a period of time.
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