What if I want to pay creditors something, but I just can not afford to pay them all that I owe?

For relatively minor debt problems there are a number of credit management companies that deal with credit card debts and work out voluntary repayment plans outside of bankruptcy. If all creditors won’t agree to do this, you can file a Chapter 13 bankruptcy. This allows you to pay all your creditors a portion of what you owe them in one weekly or monthly payment that you can afford. Chapter 13 bankruptcy is best suited to people who have a regular source of income but need to reorganize their debt to make it more affordable. Payments under a Chapter 13 plan last between 3 and 5 years. When you complete the payment plan the Bankruptcy Court issues a discharge order saying all remaining debt is no longer owed by you. Long term debt such as house loans and child support are not discharged and must be resumed after the Chapter 13 plan ends.