Legal Question in Bankruptcy in Illinois

If your in Chapter 13 and then become disable an no longer to make payments. What happens with the Chapter 13?


Asked on 8/28/11, 11:08 pm

1 Answer from Attorneys
Sanford M. Martin Sanford M. Martin, P.A.

Depending on your financial situation and preferences, you may convert your Chapter 13 to a Chapter 7 bankruptcy, after approval of the court which is a common result. You may also decide that you cannot comply with your Chapter 13 Plan; the trustee will ask the court to terminate your plan, subjecting you to claims of your creditors unless you convert to a Chap 7 or other alternative. Advice: discuss your specific situation in detail with your present or other attorney.

\

Read more
Answered on 8/29/11, 5:34 am


Related Questions & Answers

More Bankruptcy Law questions and answers in Illinois