What debts are covered under Chapter 13 Bankruptcy?

Chapter 13 Bankruptcy Law in California provides debtors with an opportunity to reorganize their debt and settle it over an extended period of time. This may include unsecured debt, secured debt, and certain taxes. Unsecured debt is debt that is not backed by any type of collateral, such as credit card debt or medical bills. In Chapter 13 Bankruptcy, this type of debt is covered. Secured debt is debt backed by collateral, such as a car loan or mortgage. In Chapter 13 Bankruptcy, this type of debt is also covered. Certain types of taxes are also covered under Chapter 13 Bankruptcy in California. This includes income taxes from the last three years, payroll taxes, and estate taxes. Generally, any tax debt that is more than three years past due is eligible for inclusion in the bankruptcy. In addition, there are other types of debts that are covered under Chapter 13 Bankruptcy Law in California. This includes student loan debt, alimony or spousal support debts, debt from contracts or court judgments, and deficiency judgments from foreclosures. Overall, Chapter 13 Bankruptcy Law in California provides debtors with an opportunity to reorganize their debt and settle it over an extended period of time. This can include unsecured debt, secured debt, and certain taxes. Other types of debts that may be covered under this law include student loan debt, alimony or spousal support debts, debt from contracts or court judgments, and deficiency judgments from foreclosures.

Related FAQs

What debts are covered under Chapter 13 Bankruptcy?

Related FAQs

Related Blog Posts