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Alabama Chapter 13 Plan

Category:
Alabama Bankruptcy - Official - Middle District
State:
Alabama
Control #:
AL-BKR-999
Format:
PDF
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Description

Chapter 13 Plan The Alabama Chapter 13 Plan is a debt repayment plan for individuals who are unable to repay their debt on their own. It is a type of bankruptcy filing that enables debtors to make payments to creditors over a period of three to five years. This payment plan allows debtors to keep their property, such as their home, and pay off their debts in a manageable way. There are two types of Alabama Chapter 13 Plan: the standard plan and the modified plan. The standard plan requires debtors to make payments in equal installments over the course of three to five years. This plan may include the payment of back taxes, secured debts, and unsecured debts. The modified plan is more flexible, allowing debtors to make payments in installments over a longer period of time. In addition, the modified plan allows debtors to pay less than the full amount owed on certain debts.

The Alabama Chapter 13 Plan is a debt repayment plan for individuals who are unable to repay their debt on their own. It is a type of bankruptcy filing that enables debtors to make payments to creditors over a period of three to five years. This payment plan allows debtors to keep their property, such as their home, and pay off their debts in a manageable way. There are two types of Alabama Chapter 13 Plan: the standard plan and the modified plan. The standard plan requires debtors to make payments in equal installments over the course of three to five years. This plan may include the payment of back taxes, secured debts, and unsecured debts. The modified plan is more flexible, allowing debtors to make payments in installments over a longer period of time. In addition, the modified plan allows debtors to pay less than the full amount owed on certain debts.

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