In spite of their qualifications, some people are still hesitant or still not sure on which bankruptcy code is suitable to apply for their case. In order to know if a Chapter 13 Bankruptcy Laws is the best for your case, you should meet the following:
- You wish to pay all or a portion of your unsecured debts without your home, car and other properties to be a subject for foreclosure or be repossession.
- You have fixed current income which is enough to support your payment plan.
- You failed to pass the qualifications to maintain a Chapter 7 bankruptcy case.
- You did not qualify to receive a Chapter 7 discharge
- Have one or more considerable debts that are dischargeable in Chapter 13 bankruptcy code than in Chapter 7 bankruptcy code.
- Have sufficient assets to repay your debts from your creditors but needed momentary relief in order to repay the debts.