Do you have to include all debt in Chapter 13?

Yes. If you don’t list a debt, that is bankruptcy fraud. Chapter 13 bankruptcy has a lot of rules and regulations. Here are some factors to consider:

1. Is it a secured debt? If it's a secured debt, like a car loan, then the trustee will sell the asset and use the proceeds to pay off your debt. If the amount recovered from the sale isn't enough to cover the cost of repaying your loan in full, then you might have to pay the difference yourself.

2. Is it an unsecured debt? If it's an unsecured debt, such as credit card balances or medical bills, you can generally keep those payments going while you repay your debts through Chapter 13. This can help you rebuild your credit score once you're discharged from bankruptcy.

 


3. How much are you paying to creditors each month? If the total amount of all of your payments combined is more than what is allowed under Chapter 13 guidelines (which vary depending on where you live), then some creditors may not be included in your repayment plan. Remember that if any creditor objects to your plan, then it may need to be modified or even dismissed.

If you need help from a Chapter 13 Bankruptcy attorney in Utah, call this law firm for a free consultation:

Ascent Law LLC

8833 S Redwood Rd Ste C

West Jordan UT 84088

(801) 676-5506

https://g.page/AscentLaw

https://www.ascentlawfirm.com/chapter-13-bankruptcy-utah/ 


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