Chapter 13

If you hold your hands out in front of you in a whoa, wait a minute” fashion, thinking, “I don’t want to lose my house or car, but I’m behind on payments and I need time to get caught up”, then a Chapter 13 Bankruptcy is probably the way to go. As long as you keep your new house and car payments current, you can pay off any delinquencies over a 36-60 month period.

Chapter 13 is also the required consumer bankruptcy if your income exceeds certain thresholds determined by the court.