What is Chapter 13 bankruptcy?

What is Chapter 13 bankruptcy?

This entry is part 1 of 7 in the series Chapter 13 FAQsChapter 13 is a type of bankruptcy in which a debtor offers to pay his or her net projected disposable income for a period of 3-5 years. Most debtors file for Chapter 7 bankruptcy relief but many do not understand...
What is a Chapter 13 plan?

What is a Chapter 13 plan?

This entry is part 2 of 7 in the series Chapter 13 FAQsWhen a debtor files for Chapter 13 bankruptcy relief certain documents are filed with the court, one of which is the Chapter 13 plan. The other documents filed are the bankruptcy petition, schedules and statement...
What is confirmation of a Chapter 13 plan?

What is confirmation of a Chapter 13 plan?

This entry is part 3 of 7 in the series Chapter 13 FAQsWhen a debtor files for Chapter 13 bankruptcy relief, he or she must file a Chapter 13 plan. A Chapter 13 plan is a written document that essentially is a roadmap for the entire case. It is the basis for the...
Can a bankruptcy 13 plan be modified?

Can a bankruptcy 13 plan be modified?

This entry is part 4 of 7 in the series Chapter 13 FAQsYes. A debtor can file a motion at any point during the case to modify the terms of a confirmed Chapter 13 plan. As a little background, the debtor would have filed the chapter 13 plan when the case was filed. A...
Who is a Chapter 13 trustee?

Who is a Chapter 13 trustee?

This entry is part 5 of 7 in the series Chapter 13 FAQsA Chapter 13 trustee is an individual who is appointed by the U.S. Trustee’s Office to be the trustee of the bankruptcy estate of each person who files for Chapter 13 bankruptcy relief. Bankruptcy judges do...