A Chapter 13 calculator is a tool that helps individuals estimate their monthly Chapter 13 bankruptcy payment. Chapter 13 bankruptcy is a reorganization bankruptcy that allows individuals to repay their debts over a period of time, typically three to five years. The Chapter 13 calculator takes into account the filer’s income, expenses, and debts to calculate a monthly payment that the filer can afford.
Chapter 13 calculators can be helpful for individuals who are considering filing for bankruptcy. By using a calculator, individuals can get a better understanding of the Chapter 13 process and whether it is the right option for them. Chapter 13 calculators can also help individuals estimate how long it will take to repay their debts and how much they will pay in total.
