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Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Bankruptcy Law
Satisfied Customers: 19321
Experience:  B.A.; M.B.A.; J.D.
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My wife is in the estate sales business and has fallen

Customer Question

My wife is in the estate sales business and has fallen behind paying the customers she did sales for. The pressure is unbelievable and she is considering chapter 13 because she wants to pay them 100% of what she owes. The amount owed is in $120,000.00
range. Can this be done with a Chapter 13
Submitted: 1 year ago.
Category: Bankruptcy Law
Expert:  Phillips Esq. replied 1 year ago.

Yes, this can be done through a Chapter 13 so long as she is eligible to file under Chapter 13. Any individual, even if self-employed or operating an unincorporated business, is eligible for Chapter 13 relief as long as the individual's unsecured debts are less than $383,175.00 and secured debts are less than $1,149,525.00. These amounts are adjusted periodically to reflect changes in the consumer price index. A corporation or partnership may not be a Chapter 13 debtor.