Christian is filing for Chapter 13 bankruptcy,so he must sell his home and car and use the proceeds from this to pay off his debts on a 3-5 year repayment plan.

Question

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In Chapter 13 bankruptcy, the debtor creates a repayment plan based on their income and expenses, but they do not have to sell their assets to pay off their debts. Instead, they make monthly payments to a trustee who distributes the funds to creditors over a period of 3-5 years. The debtor may be able to keep their home and car if they can continue to make payments on them during the repayment plan.

Christian Is Filing for Chapter 13 Bankruptcy,so He Must Sell