Can I reduce my monthly credit card or automobile payments in a Chapter 13?
Yes, a Chapter 13 can reduce your monthly credit card and automobile payments. It can also reduce your interest rates to 12%, 10%, or even 0% on tax, secured, and unsecured debts. Note that you cannot force your mortgage company to take less per month than the normal monthly payment in your mortgage. You can, however, pay the arrearage (amount you are behind) over 36 months at 0% interest.
