Chapter 13 Allows For Manageable Payments

Debtors often use Chapter 13 bankruptcy to obtain relief from monthly debt payments they can no longer afford.  In many instances, a Chapter 13 debtor is only required to pay part of their debt, over a period of three or five years.  Many factors can affect a particular debtor's monthly payment requirements.  But in many instances, the debtor is only required to pay to the creditors, on a monthly basis, the amount that is available after their reasonable and necessary living expenses have been paid.  As a result, the debtor is able to structure their debt in a way that manageable for them.