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Chapter 13 Question


needhelp
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I have, sad to say about $55,000 in credit card debt. A judgement is included in that for about 22000 dollars. Alot of post and close friends suggest filing Chapter 13 . My question is in a Chapter 13 would I have to repay the entire 55000 or just a percentage? If so does any one know the percentage?

This debt is all unsecured debt, and I live in Texas.

My house and car are up to date.

I have the Judgement which I am paying on. (Current)

I have a charge off from 2 years ago. ( No calls in 7 months)

I have a credit card that I now owe 9700 on but they just bless me with a rate increase from 9.9 to 24.99.

Looking for suggestions and advise,

Thanks,

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My question is in a Chapter 13 would I have to repay the entire 55000 or just a percentage?

If that 55K is all UNsecured debt, then you would only wind up paying some percentage of the total. If any of it is secured debt, secured must be paid back at 100%.

If so does any one know the percentage?

What you pay back in a Ch 13 depends on your disposable income and what's left of it after secured debt payments are made. What's left over goes to UNsecured debt. The amount NOT paid gets discharged when you complete the plan.

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