Originally Posted by Snake Doctor

Chapter 13 payments are based on your income.

If your income is above the median for your area, you'll probably have to file a 13.

Based on the size of your family, the IRS has a table that lays out what the average expenses are in your area for rent, food, electricity, etc.
Everything else you make above that number (based on your income for the past 6 months) goes directly to the bankruptcy court.

You're allowed to keep 1 car. All of your savings accounts will be seized. If you have a safe deposit box, you'll have to let the judge examine the contents. Retirement accounts are exempt, but any contributions made in the past year aren't. Any charges or debts incurred in the past 3 months are non dischargeable.

If you're caught lying to the court, about anything, on any form, in any fashion, you will go to jail.

It's not an easy way out for people who don't feel like paying. It's just a way out for people who have no other way.

There are tons of safeguards in place to keep people from abusing the system. That's why I get so irritated with people who talk the way Woj was talking earlier about how it's just a bunch of deadbeats taking the easy way out.

It's far from that.