What portion of my debt must I repay if I file for Chapter 13?
The amount of your debt which you will be required to pay back in your repayment plan depends almost entirely on the types of debt you have. Secured debts, such as mortgages and car loans, must be paid in full, along with alimony and taxes, while unsecured debts such as credit card debt may be discharged following the successful completion of your payment plan. However, discharges in chapter 13 bankruptcy are much less common than they are in Chapter 7 bankruptcy.
If you have questions regarding Chapter 13 bankruptcy proceedings, call an experienced Houston bankruptcy attorney at the Russell Van Beustring P.C., today at 713-973-6650.