Chapter 13 Bankruptcy Attorneys in Detroit

Chapter 7 has income limits but no debt threshold. Chapter 13 is the opposite.

Chapter 13 Eligibility

To qualify for Chapter 13 bankruptcy, you must owe no more than:

• $419,275 in noncontingent, liquidated unsecured debts; and
• $1,257,850 in noncontingent, liquidated secured debts.

So long as you owe less than these amounts, you can qualify for Chapter 13, regardless of your monthly income or the value of your assets. 

Is Chapter 13 Right for Me?

Chapter 13 may be the right solution for you if:

• You have a steady source of income. Your income should be enough to make monthly payments toward your debt for three to five years.
• You have assets that you would lose through liquidation under Chapter 7. Do not assume, however, that the Chapter 7 trustee will take everything you own — or even anything at all. Speak with our attorney to learn about property exemptions and whether Chapter 13 is the only way to keep your funds and assets.
• You make too much to qualify for Chapter 7. Our attorney can help you determine your eligibility for Chapter 7 through the means test.
• Your biggest goal is to avoid repossession and/or foreclosure. While Chapter 7 may eliminate your liability for a mortgage or auto loan, it won’t necessarily prevent you from losing your home or vehicle. Chapter 13, on the other hand, can give you the time you need to catch up on delinquent payments, reaffirm your loan, and even negotiate a loan modification with your lender.

Schedule your appointment today with our Chapter 13 bankruptcy attorneys in Metro Detroit by calling (248) 609-1855 or contacting us online.