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Repayment period

The period for repayment of debts under a chapter 11, chapter 12, or chapter 13 bankruptcy

Will My Chapter 13 Payment Change With My Income?


A chapter 13 bankruptcy plan payment schematicChapter 13 bankruptcy runs over a significant length of time: 3 to 5 years. The terms of the repayment plan is tied to the debtor’s income and expenses. That raises one of the most common questions people have about Chapter 13 bankruptcy: since your income and/or your expenses might change significantly during the life of the plan, how does that change affect the plan? Can your payments be adjusted?

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