Who is eligible for Chapter 13 bankruptcy protection?
• Have a steady source of income from which to make pre-established payments to the bankruptcy trustee to benefit creditors. Social Security or retirement is considered income. • Have adequate income for these payments after covering necessary living expenses. • Fall between the acceptable limits established for secured and unsecured debts. These limits are periodically updated, and a certified bankruptcy law specialist can inform you about the current limits. If you do not qualify for Chapter 13 protection, you may still be eligible to file under Chapter 7.
