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Chapter 13 and Taxes

Posted by Kevin on January 29, 2012 under Bankruptcy Blog | Be the First to Comment

One on the advantages of Chapter 13 is that you can extend payments on long term debt.  Section 1322 (b)(2) allows a debtor to modify the rights of holders of secured claims (collateralized claims) other than claims secured only by a security interest in the debtor’s principal residence.  Section 1322 (b) (5) allows the debtor to cure defaults and make periodic payments during plan on debts where the last payment on the debt is due after the last payment under a plan.

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