The debtor may use the chapter 13 plan to disclose when the payment of funds will be made by the debtor to the trustee for distribution to the creditors. The form is also a summary of the plan developed under chapter 13.
Alabama Chapter 13 Plan Summary
Category:
State:
Alabama
Control #:
AL-BKR-800NS
Format:
Word;
PDF;
Rich Text
Instant download
This website is not affiliated with any governmental entity
Public form
Description
How to fill out Alabama Chapter 13 Plan Summary?
Utilizing examples of the Alabama Chapter 13 Plan Summary prepared by experienced attorneys provides you with the chance to avert complications when filling out forms.
Simply obtain the document from our site, complete it, and ask a lawyer to review it.
This can assist you in saving significantly more time and expenses than having an attorney create a file entirely from the beginning for you would.
Utilize the Preview feature and review the description (if available) to determine if you require this specific sample, and if so, simply click Buy Now.
- If you already possess a US Legal Forms subscription, just Log In/">Log In to your account and return to the template page.
- Locate the Download button adjacent to the template you are reviewing.
- After downloading a template, you will find your saved examples in the My documents section.
- If you do not have a subscription, that's not an issue.
- Just adhere to the step-by-step instructions below to register for an online account, obtain, and complete your Alabama Chapter 13 Plan Summary template.
- Ensure that you are downloading the correct state-specific form.
Form popularity
FAQ
Congress has decided that certain obligations, called priority debts, are too important to be discharged in bankruptcy. Common examples of priority debts include back child support, alimony, and certain taxes. If you file for Chapter 13 bankruptcy, you must pay off these debts in full through your repayment plan.
In Chapter 13 bankruptcy, you pay your unsecured creditors an amount between 0 and 100% of what you owe them. The exact amount is depends on these rules: (1) The minimum amount you must pay is equal to the amount your unsecured creditors would have received had you filed for Chapter 7 bankruptcy.
In Chapter 13 bankruptcy, you pay your unsecured creditors an amount between 0 and 100% of what you owe them. The exact amount is depends on these rules: (1) The minimum amount you must pay is equal to the amount your unsecured creditors would have received had you filed for Chapter 7 bankruptcy.
In Chapter 13 bankruptcy, you pay your unsecured creditors an amount between 0 and 100% of what you owe them. The exact amount is depends on these rules: (1) The minimum amount you must pay is equal to the amount your unsecured creditors would have received had you filed for Chapter 7 bankruptcy.
The difference between your income on Schedule I and your expenses on Schedule J will be your Chapter 13 plan payment. Your unsecured creditors will receive a percentage of the disposable income that remains after secured and priority creditors receive payment.
The Overall Chapter 13 Average Payment. The average payment for a Chapter 13 case overall is probably about $500 to $600 per month. This information, however, may not be very helpful for your particular situation.
In Chapter 13 bankruptcy, you must devote all of your "disposable income" to repayment of your debts over the life of your Chapter 13 plan. Your disposable income first goes to your secured and priority creditors. Your unsecured creditors share any remaining amount.
Before the court confirms (approves) your Chapter 13 repayment plan, you must show that it represents your "best efforts" to pay back creditors. It's also called the disposable income test because you must pay all of your disposable income at a minimum.
After confirmation, the trustee will begin paying the creditors listed in your Chapter 13 plan from the monthly payments you send in. It is crucial to the success of your case that you make timely and regular payments to the trustee.