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Chapter 13 Bankruptcy Disadvantages
Bankruptcy Lawyers for Over 40 Years


Why NOT Chapter 13?

Disadvantages of Chapter 13 bankruptcy include:
  • Chapter 13 takes longer – from three to five years, sometimes less – so your finances remain under the supervision of the Bankruptcy Court longer than Chapter 7, which typically take from three to six months.​
    ​
  • Chapter 13 attorney fees and Trustee fees are higher than in Chapter 7 although those fees including attorney fees are paid with money that would go to unsecured creditors like credit card companies.

  • The amount of debt that you can have must not exceed $1,149,525 in secured debt or $383,175 in unsecured debt if you want to file for Chapter 13; however, these amounts are adjusted periodically to account for inflation.
    ​
  • You may have to pay more money over the three to five years required for Chapter 13 than in a Chapter 7. 
 
​This is not intended as legal advice to you because Chapter 13 is complicated and depends on your specific circumstances.  If you are considering a Chapter 13, call us toll free at (877) 886-5955 for a free consultation so we can provide legal advice tailored and specific to your unique situation.  There is no obligation and the call is confidential.
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