What is a chapter 13 plan?
It is a written plan presented to the bankruptcy court by a debtor and his or her attorney. The plan states how much money or other property the debtor will pay to the chapter 13 trustee, how long the debtor s payments to the chapter 13 trustee will continue, how much will be paid to each of the debtor s creditors, which creditors will be paid outside of the plan, and certain other technical matters.
It is a written plan presented to the bankruptcy court by a debtor that states how much money or other property the debtor will pay to the chapter 13 trustee, how long the debtor’s payments to the chapter 13 trustee continue, how much will be paid to each of the debtor’s creditors, which creditors will be paid outside of the plan and certain other technical matters.
This is a plan prepared by your attorney in which the method and amount of repayment of your debts is outlined and proposed. The amount to be repaid is dependent upon your assets, disposable income, secured debt, and arrearage owed. 13. When is the first Chapter 13 Plan payment due? The first payment is due thirty (30) days after the Chapter 13 Plan is filed. The Chapter 13 Plan is usually filed with the initial Bankruptcy Petition. Our bankruptcy law firm serves the Central New York communities of Syracuse, Cortland, Auburn, and Cazenovia in the counties of Cayuga, Cortland, Madison, Oneida, Onondaga and Oswego. Our attorneys are also admitted to practice in Washington D.C. and Florida. Contact us today to discuss your situation with a skilled Central New York bankruptcy lawyer.Compare Our Prices; Payment Plans Available Simonetta and Associates, P.C.
