- Part 12 are an alternate part having family unit members growers and you may fishermen. They allows members of the family farmers and you may anglers that have received trailing with the repayments reorganize their expenses and you may pay its loan providers over time.
- Section 13 is also an excellent reorganization Part. Times recorded not as much as so it Part are often called “personal debt improvement” instances. Part thirteen needs a borrower to document a strategy explaining how the debtor will pay expense (or areas of costs) off most recent earnings. The master plan will run from 3 to 5 many years
If processing lower than a good reorganization part, which is, chapters eleven, 12 otherwise thirteen, the program should be approved by the bankruptcy legal.
The majority of people processing personal bankruptcy may wish to file not as much as either Chapter seven or around Chapter 13. Most recent case of bankruptcy legislation demands you take a test to determine when the you are eligible to file below Chapter 7. If you don’t solution which sample, you will need to document under Section thirteen discover bankruptcy proceeding recovery. 繼續閱讀 How do i determine if I should document a section seven or Section 13 case of bankruptcy?