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Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Bankruptcy Law
Satisfied Customers: 19632
Experience:  B.A.; M.B.A.; J.D.
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Given my situation and what I want o accomplish which is to

Customer Question

Given my situation and what I want o accomplish which is to get rid of credit cards and tax debts and liens, do I have a good chance of accomplishing that through chapter 13 bankruptcy?
Submitted: 11 months ago.
Category: Bankruptcy Law
Expert:  Phillips Esq. replied 11 months ago.

Hello: This isCustomer Welcome to JustAnswer! I am reviewing your post, and I will post my response very shortly. Thank you for your patience.

Expert:  Phillips Esq. replied 11 months ago.

Yes, you do so long as you complete your Chapter 13 plan. That is, so long as you make your payments according to your Chapter 13 plan and obtain Discharge Order from the Bankruptcy Court at the end of your Chapter 13 plan.

Goodluck with your case,

Customer: replied 11 months ago.
Thank you, ***** ***** amounts I owe... $515k IRS, $55k FTB, $12k credit cards, are ok for chapter 13? The house and the 5 cars I want to keep.
Expert:  Phillips Esq. replied 11 months ago.

No, your debts are too much for a Chapter 13 case. You would need to file a Chapter 11. 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 $394,725 and secured debts are less than $1,184,200. These amounts are adjusted periodically to reflect changes in the consumer price index. A corporation or partnership may not be a chapter 13 debtor.