How do you qualify for a partial payment plan? 2 Answers as of August 18, 2010

What exactly is a partial payment plan and how does one qualify for it? I doubt that I will be able to repay my debt in full and want to know what the exact rules concerning partial payment plans are.

Ask a Local Attorney. 100% Anonymous. Free Answers.

Free Case Evaluation by a Local Lawyer: Click here
Diefer Law Group, P.C.
Diefer Law Group, P.C. | Abel Fernandez
If you file a bankruptcy, you can repay a portion of your debt. You can ask the court to set up a repayment plan based on your income left over after your cost of living expenses.
Answer Applies to: California
Replied: 8/18/2010
Law Offices of Michael J. Berger
Law Offices of Michael J. Berger | Michael J. Berger
A partial payment plan sounds to me like a Chapter 13 plan where you pay back part, but not all of your debt. This is as distinguished from a 100% plan where you pay back all of your debt over time, or a typical no asset Chapter 7, where you keep all of your assets because they are all exempt, and your unsecured creditors get paid nothing.

For specific advice about your situation, call me.
Answer Applies to: California
Replied: 8/18/2010
Click to View More Answers: