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The Chapter 13 Plan and Confirmation Hearing

Posted By Majed on Sep 8, 2010 7:00am PDT

Under the bankruptcy code, the debtor's repayment plan must be filed with the court along with the original petition or within 15 days from the filing. This plan must provide proposed payments to all creditors for court approval.   The debtor must begin payment on this plan within 30 days of the filing, whether or not it has been approved by the court.

Once the plan has been confirmed, the trustee is responsible for distributing the debtor's funds to the creditors.  If the plan is not confirmed the debtor must file a modified plan or convert the case to a Chapter 7 liquidation.

If you are considering filing for Chapter 13, contact an experienced Fears | Nachawati Law Firm attorney today.
Categories: Chapter 13 Bankruptcy
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