Chapter 13 Bankruptcy and the Coronavirus: What You Should Know
Personal bankruptcy is a complicated process, and it can vary widely depending upon whether a person files for Chapter 7 bankruptcy or Chapter 13 bankruptcy . In some cases where an individual consumer is ineligible for both Chapter 7 and Chapter 13 bankruptcy, that person may need to turn to Chapter 11 bankruptcy in order to get relief. We have discussed some of the shifts in personal bankruptcy cases that have occurred as a result of the COVID-19 emergency, and we have discussed the bigger overall picture of how coronavirus relief options, as well as debt issues, have changed the way in which consumers are filing for bankruptcy or are seeking to revise their bankruptcy plans. We want to focus on Chapter 13 bankruptcy cases today in relation to COVID-19. The following are key things to know about your Chapter 13 case and the coronavirus pandemic. Your Chapter 13 Repayment Plan Can Last Longer Than Five Years In a typical Chapter 13 bankruptcy case, the debtor develops a repayment p...