Chapter 13 Bankruptcy Definition and Legal Meaning On this page, you'll find the legal definition and meaning of Chapter 13 Bankruptcy, written in plain English, along with examples of how it is used. Sorry, the video player failed to load.(Error Code: 101102) What is Chapter 13 Bankruptcy...
Chapter 13 Bankruptcy Plan Unlike the more streamlined Chapter 7 bankruptcy, a Chapter 13 bankruptcy case can be a long, drawn-out affair. When you file Chapter 13, you work out a plan with the bankruptcy court whereby you repay your creditors some or perhaps even all of the debt that you...
Definition of Chapter 13 Bankruptcy In simple terms, a Chapter 13 bankruptcy involves the reorganization of a debtor's financial affairs. The goal is to create a payment plan for the benefit of the creditors, while protecting the debtor from foreclosure, garnishment, levy, or similar consequences...
Related to bankruptcy: Chapter 13bank·rupt·cy (băngk′rəpt-sē, -rəp-sē) n. 1. The state of being bankrupt. 2. A legal proceeding that allows for a person or entity to be declared bankrupt. 3. The system of adjudication that declares instances of bankruptcy: went into bankr...
Definition Declaring bankruptcy can be a fresh start for those in dire financial straits. But not all bankruptcies are the same. Here, we'll look at Chapter 13, also known as wage earner's bankruptcy, a plan to repay debts in a structured manner while preserving assets. ...
RegisterLog in Sign up with one click: Facebook Twitter Google Share on Facebook BK (redirected frombankruptcy) Dictionary Thesaurus Legal Financial Encyclopedia Wikipedia Related to bankruptcy:Chapter 13 Category filter: AcronymDefinition BKBurger King Brands, Inc.(fast food restaurant chain) ...
Chapter 13 bankruptcy is a great method of preventing shameful, stressful foreclosure problems, enabling people with massive debt to follow a strict plan to regain their financial freedom. Ask an expert Are you having a hard time trying to understand the Chapter 13 bankruptcy definition? Are you ...
(chapter 12), and debt adjustment for an individual with a regular income (chapter 13). Municipalities may file for bankruptcy under chapter 9. The court determines which debts are to be repaid according to their priority, and the debtor is typically granted a discharge from unpaid debts that...
Chapter 13 We often refer to Chapter 13 asWage Earner Bankruptcy. It allows people with a regular income to develop a debt repayment plan. Chapter 15 Chapter 15 focuses on ancillary and other international bankruptcies. This Chapter aims to help foreign debtors clear debts. ...
Chapter 13 Bankruptcy Definition: Close Pending Advertisement Chapter 11 and 13 Case Closure In Chapter 11 and 13 cases, the closure of the case generally does not occur until many years after the initiation of the case. This is due to the nature of Chapter 11 and 13 cases. Chapter 11 and...