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Originally Posted by Kingfish
In a nutshell here is how it works:
1. You file Chapter 13
2. Your fill out a budget of your income and basic living expenses: rent, utilities, transportation ect.
3. Your attorney prepares a Chapter 13 repayment plant based on these expenses and your income
4. All money you make in excess of your basic living expenses goes to pay your creditors for the next 5 years. (you have no disposable income)
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I seem to recall hearing something about increased difficulty getting qualified under certain chapters, that some were more protective than others for private citizens and those were being pinched off/made more onerous to prove eligibility... I've long since lost that reference. What do you make of it?