Our DuPage County Chapter 13 bankruptcy team wants to help you understand what the Chapter 13 process entails in Illinois. In the following article, we outline what the Chapter 13 process looks like from a macro perspective.
In Chapter 13 bankruptcy, the debtor pays off some or all of his or her debt through payment plans over the course of 3 to 5 years. There are typically a few steps included in a Chapter 13 bankruptcy plan:
- Credit Counseling
- Filing Your Chapter 13 Petition and Schedules
- Filing Your Repayment Plan
- Meeting of the Creditors