Chapter 13 Bankruptcy Alabama

Chapter 13 bankruptcy in Alabama allows individuals to repay their debt over a three or five-year period. This type of bankruptcy is available to those who are unable to pay off their debts through Chapter 7 liquidation or Chapter 11 reorganization. Chapter 13 can help debtors manage their finances, restructure debt and potentially keep property that they could otherwise lose.

Table Of Content:

• Chapter 13 | Southern District of Alabama | United States Bankruptcy ...
• Chapter 13 Trustee | Montgomery AL: Sabrina L. McKinney
• Chapter 13 Trustee - Northern District Of Alabama - Southern Division
• How Does an Alabama Chapter 13 Bankruptcy Plan Work? | Bond ...
• Chapter 13 - Bankruptcy Basics | United States Courts
• Chapter 13 Bankruptcy Alabama: 7 Things You Need to Know
• Michele T. Hatcher, Chapter 13 Standing Trustee Northern District of ...
• Alabama Chapter 13 bankruptcy
• Chapter 13 Tuscaloosa – Office of C David Cottingham
• Alabama Bankruptcy Exemptions and Law

How long does a Chapter 13 filing in Alabama last?

Typically, a payment plan lasts either three or five years. It may be extended to seven years under certain circumstances.

What happens if I miss a payment?

Your case may be dismissed by the court if you miss more than two payments, so it’s important to stay up to date on payments and contact your attorney as soon as something changes.

Will filing for Chapter 13 bankrupt wipe out my debt completely?

No, filing for Chapter 13 bankrupt does not eliminate all of your debt; however, it will allow you to reorganize it and change the terms of repayment. You may also receive some relief from creditors while making your payments according to the approved repayment plan.

Conclusion:
Chapter 13 bankruptcy in Alabama can provide individuals with an opportunity to regain financial health and keep property that they could otherwise lose in other forms of bankruptcy proceedings. While it’s important to understand the ins and outs of this process, most people find that taking the initiative with regards to their finances is ultimately beneficial in the long run.