To finish your case successfully, sometimes beyond paying your Chapter 13 plan you may need to pay a debt directly and do some other things. The bankruptcy court’s approval of your payment plan (at the Confirmation Hearing) happens about 2-to-4 months after filing your case. At that point your Chapter 13 case is fully on its way. You likely … Read More
Although a Chapter 13 case lasts so much longer than a Chapter 7 one, it often has huge advantages. But you have to complete it successfully. Once your Chapter 13 payment plan gets approved at the “confirmation hearing,” your case is on its way. Now you have to comply with that plan to get the advantages that Chapter … Read More
The Chapter 13 trustee is an important player in your “adjustment of debts” case so it helps to know how to deal with him or her.
Sometime you and your lawyer don’t know everything you need to know to put together a perfect Chapter 13 plan. So then you can modify it.
Before committing to a Chapter 13 “adjustment of debts” it’s good to know that its plan can likely be “modified” if your situation changes.
Chapter 13 revolves around your payment plan, which you propose based on your budget, and possibly negotiate with creditors and the trustee.
To the extent you do not pay off your debts during a Chapter 13 payment plan, the remaining balance is usually legally written off forever.
Considering the length of a Chapter 13 case, and also its many advantages, you need to know what it takes to successfully finish it.