Roseville Bankruptcy: Discharging Debts in Chapter 13

You should understand that despite Chapter 13’s role as a reorganization bankruptcy, Chapter 13 can still be used to discharge some debts.  Even though the goal of Chapter 13 is debt repayment, debt which is not paid off through the plan is discharged upon successful completion of the repayment plan.  The specific amount you are able to discharge depends upon several factors and the facts of your case.
In a Chapter 13 reorganization, all unsecured creditors who aren’t fully paid nonetheless lose their rights to collect on these debts once the plan has been successfully completed.  During the three to five year installment plan, a Chapter 13 Trustee appointed by the court will administer the plan.  The plan covers which creditors will be paid how much, and it must be approved by a bankruptcy judge.  Upon filing, creditors have the chance to state their claims with the court.  Creditors failing to file a claim lose their rights to collect.  To find out more about these and other benefits of a Chapter 13 filing, contact Sagaria Law of Roseville to schedule a consultation.

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