Chapter 13 Bankruptcy

Chapter 13 bankruptcy is typically filed by people who earn too much to qualify to file under Chapter 7. There are other reasons to file under Chapter 13 however, and it is important to review your financial situation thoroughly with your attorney in order to determine which type of bankruptcy is most beneficial to your financial future. Chapter 13 bankruptcy involves a commitment to repay some portion of your debt over a period of three to five years. The length of your plan will depend on the reason you are filing under Chapter 13 and how much disposable income you have.