• You cannot use your future wages to pay off your debts. Instead, you’ll need to find another source of income to cover these expenses.
• You won’t get any more credit after filing for chapter 13 bankruptcy. However, you could apply for new loans if you qualify.
• You will receive a discharge when you complete your repayment plan. This means that your debts will no longer appear on your credit report.
• You will lose access to certain types of credit, such as auto loans and mortgages.
• Your interest rate on credit card accounts might increase because they are considered high risk.
• Your credit score can take up to 180 days to recover from a bankruptcy.
