Chapter 13 property

What happens to my property in a Chapter 13 Bankruptcy

In a Utah Chapter 13 bankruptcy proceeding, debts included in the Chapter 13 plan must either be paid completely or the property securing the debt must be surrendered. On-going payments on home mortgages and other long-term secured debts may be made by the debtor directly to the creditor if it is properly recognized as outside the plan. Back payments to cure a mortgage default or a car loan can often be made through the Chapter 13 plan.

The debtor will be able to keep all desired property as long as the unsecured creditors are paid not less than they would receive if assets were liquidated in a Chapter 7 bankruptcy proceeding.

Share on facebook
Share on twitter
Share on linkedin
Privacy Preferences
When you visit our website, it may store information through your browser from specific services, usually in form of cookies. Here you can change your privacy preferences. Please note that blocking some types of cookies may impact your experience on our website and the services we offer.