In this article, our Naperville Chapter 13 bankruptcy attorneys explain the Chapter 13 bankruptcy process.

In a Chapter 13 bankruptcy, you can pay off some or all of your debt over the course of three to five years through a payment plan.  Chapter 13 is appropriate for some people who do not qualify for Chapter 7 bankruptcy or who have significant assets that they would be concerned about forfeiting in a Chapter 7 bankruptcy.

Read the full article by our Naperville Chapter 13 bankruptcy attorneys explaining the Chapter 13 bankruptcy process.

In this article, our Naperville Chapter 13 bankruptcy lawyers explain how Chapter 13 debt repayment plans work.  We explain the different types of creditors, including priority creditors, secured creditors, and unsecured creditors. We also explain the requirements for how the plan must treat each class of creditor in order to be approved by the bankruptcy court.

Read the full article by our Naperville Chapter 13 bankruptcy attorneys explaining Chapter 13 repayment plans.

In this article, our Naperville Chapter 13 bankruptcy lawyers explain the difference between Chapter 13 bankruptcy and Chapter 7 bankruptcy.  

In a Chapter 7 bankruptcy, some of your (non-exempt) assets are liquidated in order to pay your debts.  To the extent that you do not have enough non-exempt assets to pay your debts, your debts are wiped out with certain exceptions. In a Chapter 13 bankruptcy, your debts are paid in part or in full through a repayment plan over the course of three to five years through your disposable income.  Creditors are not permitted to take collection action during the course of the repayment plan.

Read the full article by our Naperville Chapter 13 lawyers explaining the difference between Chapter 13 bankruptcy and Chapter 7 bankruptcy.