These are the myths:
Most of the negative perceptions of Chapter 13 are largely unfounded and have spread rough the internet based on either misunderstanding or obscure isolated cases.
The reality is quite different; Chapter 13 is used on a daily basis to:
Obviously, the greater the income, the more the Court will look to have paid under a Chapter 13 plan; but only in the most exceptional cases with very high income debtors is that amount anything close to what debtors have been struggling to pay prior to bankruptcy in minimum payments (and those payments were with continuing interest and no elimination of debt.)
At the end of the Chapter 13 plan all remaining unsecured debt at the conclusion of the plan is discharged and eliminated!
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