A Chapter 13 bankruptcy is different than a chapter 7 bankruptcy. In either case you will have to qualify for the one that suits your particular financial situation. The first thing you want to do is use the services of a qualified Cincinnati bankruptcy attorney to help you determine this, then assist you through the bankruptcy process.
You will have several forms that must be filled out correctly and honestly. These forms will lay out your financial situation for your bankruptcy trustee. It will show what income you have, what property you own, what your expenses are and what your debt load is. You will also have to submit a financial payment plan suggesting how you intend to handle your debts.
This plan has to be approved by the bankruptcy court in order for it to be legally binding. Once it is approved by the bankruptcy court then both you and your creditors have to abide by it. Normally you will make the payment agreed upon to your bankruptcy trustee every month. Then the trustee will make the agreed upon payments to your creditors on your behalf. Your creditors are not allow to harass you for money and must stick with receiving what was agreed upon.
In some cases you will be required to repay all of the amount owed to some of your creditors. Others will only receive a portion, and your unsecured creditors may not receive anything, or perhaps a small amount. Your legal counsel will assist you with drafting your payment plan.