QUESTION
What happens to remaining debt after Chapter 13 plan.
Asked on Mar 08th, 2013 on Bankruptcy - Texas
More details to this question:
I live in Texas and received a Chapter 7 discharge almost 2 years ago. Now I am filing for chapter 13. I understand that I'm not eligible for a discharge but am I required to 100% of debts in the 5 years? Or can there still be debt left over at the end that I'm still responsible for? I dont think I can afford to pay 100% of the debt over a 5 year period.
1 ANSWER
This very much depends on what debts you have remaining after the Chapter 7 discharge. Anything discharged in the 7 does not have to be paid in the 13, unless it is a secured debt for property you want to keep. Certain other debts must be paid in full during a Chapter 13, while other debts do not have to be paid in full. You really need to visit with an attorney about this.
Answered on Mar 08th, 2013 at 3:28 PM