Who is eligible to file under chapter 13?
Any natural person may file under chapter 13 if the person 1. resides in, does business in, or owns property in the United States, 2. has regular income, 3. has unsecured debts of less than $250,000, 4. has secured debts of less than $750,000, 5. is not a stockbroker or a commodity broker, and A person meeting the above requirements may file under chapter 13 regardless of when he or she last filed a bankruptcy case or received a bankruptcy discharge. Corporations, partnerships and limited liability companies may not file under chapter 13.
Chapter 13 generally applies to consumers with smaller debts. Partnerships and corporations cannot file under Chapter 13. However, sole proprietors and unincorporated businesses are eligible for Chapter 13. A consumer is eligible to file under Chapter 13 if he or she wants to repay at least some of the debt and the debtor must have a steady income. The debtor must provide a schedule of assets, income, debts and expenditures with the bankruptcy court. After filing the petition, the debtor must then file a plan with the court that sets out how the debts are to be paid.
Any natural person may file under Chapter 13 if the person- (1) resides in, does business in, or owns property in the United States, (2) has regular income, (3) has unsecured debts of less than $290,525.00*, (4) has secured debts of less than $871,550.00*, (5) is not a stockbroker or a commodity broker and (6) has not been a debtor in another bankruptcy case that was dismissed within the last 180 days on certain technical grounds. A person meeting the above requirements may file under Chapter 13 regardless of when he or she last filed a bankruptcy case or received a bankruptcy discharge. Corporations, partnerships, and limited companies may not file under Chapter 13. However, a discharge in a chapter 13 may not be granted if another discharge was received within 2 years of the filing of the present chapter 13. * These amounts are adjusted annually. The amounts shown here apply to cases filed on or after April 1, 2001.
Any natural person may file under chapter 13 if the person • resides in, does business in, or owns property in the United States, • has regular income, • has unsecured debts of less than $250,000, • has secured debts of less than $750,000, • is not a stockbroker or a commodity broker, and • has not been a debtor in another bankruptcy case that was dismissed within the last 180 days on certain technical grounds. A person meeting the above requirements may file under chapter 13 regardless of when he or she last filed a bankruptcy case or received a bankruptcy discharge. Corporations, partnerships and limited liability companies may not file under chapter 13.
