Legal Corner


-List Your Site Here! -- Targeted Advertising For Just Pennies A Day! -Tell A Friend - Bookmark This Page

LegalCornerTM - Chapter 13 - Plan Bankruptcy F.A.Q.'s

Find A Lawyer
Law Area:
 

State:
 

 
Search

Search:

Search By:

--Back

Q.How does the Chapter 13 plan work?

A.A Chapter 13 debtor will present a 3 to 5 year plan for debt repayment. The Plan will then be reviewed by the Chapter 13 trustee, the debtor's creditors and the Bankruptcy Court to ensure the plan: (a) was filed in good faith, (b) provides for payments that are feasible in light of the debtor's income and expenses, and (c) provides for payments that equal or exceed the amount of money creditors would have received had the debtor filed a Chapter 7 bankruptcy. If the plan is approved by the court, and the debtor makes all of the required payments, the debtor will receive a discharge.




Copyright 1999-2018 Melissa C. Marsh. All Rights Reserved. All Information on this website is subject to a Disclaimer and Use Agreement. This information is provided as general information only and should not be construed as legal advice. We advise you to seek the advice of competent legal counsel to address your own specific questions, facts and circumstances.