Financial institutions are normally classified into the different communities to choose how they might possibly be managed
A chapter thirteen bankruptcy is a type of reorganization case of bankruptcy circumstances which allows the latest adjustment out of bills for all those with a great regular revenue stream. Sometimes it is titled a repayment package otherwise a salary earner’s bankruptcy proceeding. In the a chapter 13 case of bankruptcy situation youre filing plans together with your situation that implies a cost during your bankruptcy trustee. A business entity try not to document a section 13 instance generally there are not any business Part 13 bankruptcies.
So you’re able to be eligible for a section 13 bankruptcy proceeding you must tell you brand new legal you have a normal income source. You’ll have to let you know the fresh judge you could spend the program commission youre proposing in the case. There has to be adequate money into your budget right after paying their very first expenses to cover the payment for the instance.
A part 13 personal bankruptcy plan need to pay specific financial institutions or render for how they will be paid inside bankruptcy proceeding. Lees verder