Four Reasons To File Chapter 13 Bankruptcy

Here are what I’d consider to be the four main reasons why someone might file Chapter 13 bankruptcy instead of Chapter 7:

1. You need a repayment plan to reinstate mortgage arrears.
2. You have non-exempt assets that would be liquidated (sold) by a Chapter 7 trustee.
3. You don’t qualify for Chapter 7 under the means test because your income is too high.
4. You have non-dischargeable debts.