What does Chapter 13 bankruptcy consist of?

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What does Chapter 13 bankruptcy consist of?

Asked on February 5, 2013 under Bankruptcy Law, Oklahoma

Answers:

S.L,. Member, California Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

Chapter 13 bankruptcy requires a plan (budget) for repayment of creditors.  A bankruptcy trustee approves the plan (budget).  Payments are made to the creditors in accordance with the terms of the plan (budget).  The plan may allow for full or partial repayment of debts over a period of time.


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