Chapter 13 bankruptcy runs over a significant length of time: 3 to 5 years. The terms of the repayment plan is tied to the debtor’s income and expenses. That raises one of the most common questions people have about Chapter 13 bankruptcy: since your income and/or your expenses might change significantly during the life of the plan, how does that change affect the plan? Can your payments be adjusted?
Chapter 13 bankruptcy runs over a significant length of time: 3 to 5 years. The terms of the repayment plan is tied to the debtor’s income and expenses. That raises one of the most common questions people have about Chapter 13 bankruptcy: since your income and/or your expenses might change significantly during the life of the plan, how does that change affect the plan? Can your payments be adjusted?