Chapter 13 Bankruptcy

Chapter 13 bankruptcy, limited exclusively to individuals and married couples, provides for a financial reorganization plan overseen by a standing chapter 13 trustee. Filing bankruptcy under this chapter is a popular choice for people who have fallen behind on their house payments, have one or more cars or large personal assets that they owe money on, are ineligible for chapter 7 due to calculated disposable income, or have taxes or other obligations that having payments spread out over time would be beneficial. Chapter 13 can also be used to reorganize small business sole proprietorships or to propose a plan for the orderly sell-off of an asset.

Our bankruptcy lawyer, Erich Fabricius, has deep familiarity with the bankruptcy code requirements for proposing and confirming chapter 13 plans, including means testing requirements for debtors above the median North Carolina income.

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