What debts are covered under Chapter 13 Bankruptcy?

Chapter 13 bankruptcy law in South Carolina can be used to protect debtors from their creditors. It allows people to reduce or eliminate certain debts while allowing them to keep their assets. Under this type of bankruptcy, debtors must have enough income to make payments to their creditors over a period of three to five years. Under Chapter 13, debtors can discharge or reduce the amount of certain unsecured debts, such as credit card debt, medical bills, and payday loans. The court will also consider certain secured debts, such as car loans or mortgages. The debtor will need to come up with a repayment plan to repay these debts over the payment period. In addition, Chapter 13 bankruptcy can help debtors have debts discharged completely, including certain income taxes, child support payments, and alimony. Certain debts will be discharged fully, while others may be discharged partially or not at all. Chapter 13 also allows debtors to keep their property, such as cars or homes, regardless of how much is owed to the creditors. Overall, Chapter 13 bankruptcy in South Carolina is a powerful tool for debtors as it can help them reduce or eliminate certain debts and keep their assets. Debtors must have enough income to make payments on their debts over the payment period and be willing to come up with an acceptable repayment plan. However, it is important to note that not all debts will be discharged under this type of bankruptcy.

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What debts are covered under Chapter 13 Bankruptcy?

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