 |
|
Pay Off |
From Only |
|
$15,000.00 |
$55/Month |
|
$20,000.00 |
$75/Month |
|
$30,000.00 |
$105/Month |
|
$50,000.00 |
$185/Month |
*Above examples
represent minimum payment available for typical CH 13 plan filed in Middle
District of Florida. Results may vary depending on your individual
circumstances. |
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What About Co-signers?
If someone has co-signed a loan with you and you file
for bankruptcy, the co-signer may have to pay your debt.
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Chapter 7 is the most common form of
bankruptcy, and is usually used to discharge, or ‘wipe out’, your
unsecured debt such as credit cards; medical bills; most personal
loans; judgments; deficiencies on repossessed property, etc.
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Chapter 13 is usually used if you are seeking to protect property such
as a home, boat or automobile from collections and repossession.
Chapter 13 requires you to have some regular source of income, and
affords you an opportunity to repay any delinquent debt amounts over a
3 to 5 year period, while you are entitled to keep possession of the
property you are seeking to protect.
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