This type of bankruptcy is a reorganization for consumers, which permits you to partially or fully repay your debts. In addition, a Chapter 13 bankruptcy, lets you keep your property and use your income to pay all or a portion of the debts to outstanding creditors within three to five years. The income from the debtor is used to pay for the repayment
The difference in a Chapter 13 bankruptcy is the individual or business' assets are not allowed outright liquidated back to the debtors as is the case with a Chapter 7 bankruptcy nor does it involve the sophisticated restructuring or costs that are associated with a Chapter 11 bankruptcy.
Chapter 13 entails the following:
Available in Boulder City - Henderson - Las Vegas - North Las Vegas