If you are in a Chapter 13 that has been confirmed, and your situation has changed since confirmation, you can ask the court for a payment modification, in many cases, based on your change in circumstances.

Answer Applies to: Indiana
Replied: 11/18/2011

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Depending on the chapter of bankruptcy that best suits your needs and circumstances, you can eliminate or dramatically reduce payments to unsecured creditors. A knowledgeable bankruptcy attorney can help you to understand the benefits and advantages of the different chapters of bankruptcy.

Answer Applies to: Arizona
Replied: 11/17/2011

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For unsecured debt yes chapter 13 bankruptcy. Or you can file for chapter 7 if you qualify, through chapter 7 all your unsecured debt will be eliminated.

Answer Applies to: Florida
Replied: 11/17/2011

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You should consult with an attorney about chapter 13. That is debt repayment plan.

Answer Applies to: California
Replied: 11/16/2011

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If you are in Chapter 13 bankruptcy, it is possible to amend your Chapter 13 Plan if you are unable to keep up with your payments.

Answer Applies to: New York
Replied: 11/16/2011

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Filing a chapter 13 could potentially reduce interest rates, extend payments and reduce market values so that you could keep assets and pay them back at a more reasonable rate.

Answer Applies to: California
Replied: 11/16/2011

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The answer depends on whether you are filing a ch. 7 or a 13. If you are filing a ch. 7, then a secured creditor (ex. car loan) may reaffirm the debt on better terms. However, this is voluntary. In a ch. 13, you would put the secured loan insid the bankruptcy. Most of the time, this would in fact reduce the monthly amount required to pay the loan.

Answer Applies to: Virginia
Replied: 11/16/2011

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The most significant difference between chapter 7 and chapter 13 is that the latter is a payment plan. In chapter 7 you don't pay your creditors. In chapter 13 you propose a monthly payment plan that fits within your budget. Consult with an attorney to discuss your rights.

Answer Applies to: California
Replied: 11/16/2011

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If you qualify for a Chapter 13, it provides for a 5 year repayment of debt, but you need to talk to a bankruptcy attorney to see if you qualify.

Answer Applies to: California
Replied: 11/16/2011

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Not enough detail in your question, but I will give it a try. The whole point of bankruptcy is to discharge debt. If by "creditors" you mean debt, a bankruptcy will discharge your obligations. If you are eligible for a Ch 7 and your debts are dischargeable, you will not reduce payments to creditors, you will eliminate them. Eligibility for a Ch 7 depends on your household income. If your income is above the median income in your state you may have to file under Ch 13 rather than Ch 7. Debts that are NOT dischargeable include student loans, most tax debt and domestic support obligations.

Answer Applies to: Colorado
Replied: 11/16/2011

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You can either eliminate all debt in a chapter 7 if you qualify or pay what you can afford to pay in a chapter 13.

Answer Applies to: Michigan
Replied: 11/16/2011

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If you file a chapter 7 bankruptcy, then you do not pay your creditors during bankruptcy and all the debt will be discharged. If you file chapter 13 bankruptcy, you will be put on a payment plan to repay those creditors based off how much disposable income you have.

Answer Applies to: New York
Replied: 11/16/2011

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I'm not real sure that I understand precisely what you are asking. If you file a Chapter 13 reorganization, then all of your debts are lumped together and you make payments to the Court to pay them at a rate that you can afford. The only exception is your mortgage which must be paid according to the terms of the note. If you file Chapter 7, you won't be paying your debts for the most part except for secured debts like your mortgage or car loan. You can request that the mortgage company or the car lienholder modify your loan agreement but they don't have to if they don't want to and you can't make them lower your payment.

Answer Applies to: Texas
Replied: 11/16/2011

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If you are filing a Ch 7 (which it sounds like you are) you can only reaffirm the secured creditors (i.e., mortgage, car, etc) that you can afford. You would not be paying any unsecured creditors since they would be discharged. If you can't afford to pay your secured creditors, you will probably have to give something up (not reaffirm it) or you will have to go in front of the judge and explain why you need to keep it and how you are going to make the payment.

Answer Applies to: Michigan
Replied: 11/16/2011

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In bankruptcy you do not pay your dischargeable debt. I am not sure what you mean.

Answer Applies to: New York
Replied: 11/16/2011

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In a bankruptcy not only are debts discharged but contracts are also stopped. In a Chapter 7 bankruptcy you will not longer have to pay creditors for debts and you can end some contracts for monthly payments.

Answer Applies to: Colorado
Replied: 11/16/2011

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Yes. You can modify your plan to lower the total amount of the payments to be made to unsecured (but not secured or priority) creditors. Consult with your lawyer. He should be well versed in plan modifications if he practices consumer bankruptcy law.

Answer Applies to: Texas
Replied: 11/16/2011

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You might not have to pay at all if you qualify for Chapter 7.

Answer Applies to: California
Replied: 11/16/2011

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You don't make monthly payments to creditors while in bankruptcy.

Answer Applies to: Georgia
Replied: 11/15/2011

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That sounds like you are describing a Chapter 13 bankruptcy. You may be eligible for a Chapter 7 which would remove all unsecured debts (and their payments) and you decide what secured debts you want to continue with.

Answer Applies to: Utah
Replied: 11/15/2011

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Amend your filing to include those debts.

Answer Applies to: Georgia
Replied: 11/15/2011

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Yes. It's complicated and difficult to do on your own though.

Answer Applies to: California
Replied: 11/15/2011

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