Buy custom new bankruptcy laws
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| Topic: |
Business
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| Number of pages / Number of words: |
8 / 2199 |
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The minimum amount you'll have to repay depends on how much you earn, how much you owe, and how much your unsecured creditors would have received if you'd filed for Chapter 7.
If you have secured debts, Chapter 13 gives you an option to make up missed payments to avoid repossession or foreclosure. You can include these past due amounts in your repayment plan and make them up over time...
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You can include these past due amounts in your repayment plan and make them up over time. (Nola, 2005)
There have been a growing number of personal bankruptcies over the years. There were 900,000 personal bankruptcies reported in 1995 that grew to 1.6 million in 2005. (Renauer, 2005) The growth is astounding and the credit industry indicated that they need a change because it is costing too much money for them...
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