ABA Family Legal Guide

Consumer Bankruptcy

Chapter 13: Wager-Earner or Individuals with Regular Income Bankruptcy

Chapter 13 in Action

What is required to file a Chapter 13 bankruptcy?

As compared to Chapter 7, you need to provide more detailed information, including a statement of monthly net income itemized to show how the amount was calculated, copies of all payments received 60 days before the filing of the petition, copies of federal tax returns, and a photo ID. Like Chapter 7, you will also have to file a certificate showing that you received credit counseling within 180 days before your bankruptcy filing.

You will also need to file a repayment plan within 15 days of filing your petition. In your payment plan, you agree to pay a certain amount each month to your creditors. Your plan will indicate the amount of money you propose to pay each month, the total amount to be paid, the percentage return you propose to pay to your creditors, and the expected length of the plan. You must make your first payment on this plan within 30 days after you file it.