Who Can File

• Anyone who is a resident of Mississippi for at least two years and has a verifiable source of income may file a Chapter 13 case. You are required to attend credit counseling in the six months prior to filing. As of 2010, you are allowed to claim not more than $360,475 in unsecured debt and $1,081,000 in secured debt in a Chapter 13 bankruptcy.
  
  

Claimable Debts

• Debts are divided into three categories in a Chapter 13 bankruptcy. Priority debts are debts that must be repaid first and in full. These include tax debts, child support and alimony payments. Secured debts, including mortgage and vehicle loans, receive second priority. Unsecured debts, such as credit cards or medical bills, receive lowest priority. Chapter 13 cannot discharge priority debts, government penalties or student loan debt.
  
  

Filing Requirements

• You must file your Chapter 13 petition in either the Northern or Southern district bankruptcy court, depending on which is closest to your residence. As of 2010, the filing fee for Chapter 13 is $274. You have 14 days following the initial filing to submit your supporting documentation (statement of financial affairs, list of debts and assets) to the court. Failure to provide the court with these documents can result in a dismissal of your petition.
  
  

Repayment Plan

• In a Chapter 13 bankruptcy, you are responsible for repaying some or all of your outstanding debt. The repayment period may last not less than three years and not more than five. The length of your repayment plan is based on your income and family size. If your income is greater than the median income for your family size, you must pay for five years. If it's less than the median, you only have to pay for three. As of 2010, the median income for a single Chapter 13 debtor in Mississippi is $31,954.
  
  

Considerations

• Your Chapter 13 petition cannot be discharged until you complete your repayment plan. You may only receive an early discharge in cases of severe financial hardship. The state of Mississippi prohibits you from buying or selling any land or property during the repayment period without the explicit consent of the court. You are also barred from obtaining any new lines of credit. A Chapter 13 bankruptcy can stay on your credit for up to seven years from the date of discharge.