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Click ‘Get Form’ to open the 13 plan in the editor.
Begin by entering the case number and debtor's information, including their Social Security Number and Employer’s Tax ID Number if applicable.
Specify the chapter of bankruptcy by selecting 'Chapter 13' from the options provided.
Fill in the dates for when the plan was filed and modified. Ensure these are accurate as they are crucial for court records.
Detail the payment structure: input the amount of each payment, due date, and period of payments. Clearly state any dividend percentages for unsecured claims.
Indicate who payments will be made to, typically a Standing Trustee, ensuring all details are correct.
Enter attorney's fees awarded to the debtor's attorney, specifying when these fees are due from the estate.
Review all entries for accuracy before finalizing your document. Use our platform’s tools to make any necessary adjustments.
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After a Chapter 13 repayment plan is confirmed by the Court, you and your creditors are bound to the terms of the plan. You will continue making payments pursuant to the Chapter 13 repayment plan for the remainder of your Chapter 13 bankruptcy case (36 to 60 months).
What happens after a Chapter 13 plan is confirmed?
A Chapter 13 petition for bankruptcy will likely necessitate a $500 to $600 monthly payment, especially for debtors paying at least one automobile through the payment plan. However, since the bankruptcy court will consider a large number of factors, this estimate could vary greatly.
What is a Chapter 13 plan?
THE BENEFIT OF CHAPTER 13 The court may discharge the remaining amount you arent able to pay over the years. Another benefit of Chapter 13 is that you may keep your important assets, like your home or car. You dont have to give up everything to pay your debts and move forward in a better financial position.
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