What debts are covered under Chapter 13 Bankruptcy?

Chapter 13 Bankruptcy Law in Washington allows individuals to reorganize their finances. It is designed to help debtors keep their assets while paying off their debts in a way that is affordable and fair. Under Chapter 13 Bankruptcy, the following debts are covered: secured debts, such as mortgages and car loans; unsecured debts, such as credit cards, medical bills, and other personal loans; and priority debts, such as taxes and child support payments that must be paid in full. In addition, individuals filing for Chapter 13 Bankruptcy may also include any unpaid arrearages of secured loans, such as mortgages and car loans, that were incurred prior to filing for bankruptcy. This means that any back payments or late fees associated with these loans can be included as part of the debt repayment plan. In order to be eligible for Chapter 13 Bankruptcy, debtors must have a regular source of income and their total unsecured debts must be less than $419,275 and their total secured debts must be less than $1,257,850. Chapter 13 Bankruptcy provides individuals with an opportunity to reorganize their finances and pay off their debt in a way that is manageable and fair. It can help individuals get a fresh start and move forward with their lives.

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What debts are covered under Chapter 13 Bankruptcy?

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