Chapter 13 bankruptcy is a repayment plan for all of your debts. And ‘decided to reorganize what I owe you, get lower interest rates and have 3-5 years to repay. The reason some people think this file bankruptcy rather than Chapter 7, is that you get to keep your assets.
Step by step how to file for Chapter 13 bankruptcy
Third time, you must provide the necessary information Chapter 13 Trustee
Bankruptcy Forms:
Fourth Once the application is made you will be appointed an independent trustee to handle the case.
Fifth After 20 to 50 days after submission of the managers held a meeting with creditors. Here you can meet all creditors and answer any questions you may ask.
Sixth unsecured creditors will file their claims with the court within 90 days of the meeting of creditors
Seventh After meeting with you, the trustee and creditors go to court to hear the repayment schedule.
The eighth judge will then decide if your bankruptcy is approved.