Your Property in Chapter 13 Bankruptcy

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In Chapter 13 bankruptcy, you keep your property and repay your debts (some in full, some in part) over a three to five year period. Chapter 13 is often a good option for people who have lots of equity in property they want to keep, like a home or expensive jewelry.

Exemptions still play a role in Chapter 13 bankruptcy, since the minimum amount you must repay most unsecured creditors depends on how much of your property is exempt. If most of your property is exempt, your minimum repayment amnount to unsecured creditors is less. If much of your property is nonexempt, your minimum payment goes up.

Chapter 13 also has some nice features that apply to certain types of secured property. For example, you may be able to reduce the amount of a secured loan to the value of the property (this is called a cramdown). And in some cases, you can remove second or third mortgages from your home.  

Below you'll find overview articles on how property is treated in Chapter 13 bankruptcy, articles on what happens to specific types of property, and links to areas devoted to your car and home in Chapter 13.

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By clicking "Find a Lawyer", you agree to the Martindale-Nolo Texting Terms. Martindale-Nolo and up to 5 participating attorneys may contact you on the number you provided for marketing purposes, discuss available services, etc. Messages may be sent using pre-recorded messages, auto-dialer or other automated technology. You are not required to provide consent as a condition of service. Attorneys have the option, but are not required, to send text messages to you. You will receive up to 2 messages per week from Martindale-Nolo. Frequency from attorney may vary. Message and data rates may apply. Your number will be held in accordance with our Privacy Policy.

You should not send any sensitive or confidential information through this site. Any information sent through this site does not create an attorney-client relationship and may not be treated as privileged or confidential. The lawyer or law firm you are contacting is not required to, and may choose not to, accept you as a client. The Internet is not necessarily secure and emails sent through this site could be intercepted or read by third parties.

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