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12) Its good to understand the concept of the Chapter 13 Plan Base. This is the total of all of your plan payments for the entirety of your case. If you have a 48 month plan and your payment is $1,000 monthly, then your plan base is $48,000.
What happens after a Chapter 13 plan is confirmed?
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 Chapter 13 confirmation?
Confirmation Hearing: 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 paperwork do I need for Chapter 13?
In addition to obtaining your credit report, you will need the following documents: Tax returns for the past four years. Paystubs or other proof of income for the last six months before filing. Bank account statements from the past 36 months. Recent mortgage statement(s) and real estate tax bills (if applicable)
How much does a chapter 13 trustee get paid?
Trustees are paid based on the amount paid under your repayment plan. The percentage may vary based on the jurisdiction, but the maximum percentage for a Chapter 13 trustee fee is 10 percent.
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These payments will be disbursed either by the trustee or directly by the debtor(s), as specified below. Unless otherwise ordered by the court, the claim amount
3015.1 Requirements for a Local Form for Plans Filed in a
A district may require that a Local Form for a plan filed in a chapter 13 case be used instead of an Official Form adopted for that purpose if the following
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