Posted by: admin in chapter 13 bankruptcy rules on
Henry W asked:
I am right now in the middle of a pro se Chapter 13 filing. With the debts that I have that are unsecured and some that are secured debts, can I offer a plan to to the court which will offer the creditors less than they are actually owed by me?
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I am right now in the middle of a pro se Chapter 13 filing. With the debts that I have that are unsecured and some that are secured debts, can I offer a plan to to the court which will offer the creditors less than they are actually owed by me?
I realize that the creditors could and very well may object to the repayment plan but perhaps they may take the lower offer. I’m not sure.
Any help please???
Normally with a chapter 13 (depending on your income) unsecured debts are discharged. In some cases with secured debts you can pay less than you owe, i.e. you are including a vehicle in the trustee payment, if it is worth less than you owe it can sometime be renegotiated through the bankruptcy process. This does not seem to be the case with houses though.