What happens if I cannot complete my repayment plan in Chapter 13 Bankruptcy?

If you cannot complete your repayment plan in Chapter 13 Bankruptcy, there are a few scenarios that could occur. In some cases, your case may be dismissed by the court, meaning that you no longer have protection from your creditors. This could result in creditors continuing to pursue you for the debt you owe them. In other cases, the court may convert your case to a Chapter 7 bankruptcy. This means that your debts will be liquidated and you will no longer be required to make payments. However, this may not be beneficial for you since more of your assets may be taken to pay off your debts. You may also be able to apply for a hardship discharge. This means that you don’t have to continue making payments and all of your remaining debts will be discharged. However, you must show the court that you are unable to repay your debt due to certain circumstances. It is important to understand the consequences of not completing your repayment plan in Chapter 13 Bankruptcy. If you are unable to make payments, contact a bankruptcy attorney who can help you understand the best course of action for your situation.

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What happens if I cannot complete my repayment plan in Chapter 13 Bankruptcy?

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