Illinois Chapter 13 Model Plan (non-calculating)

State:
Illinois
Control #:
IL-SKU-1672
Format:
PDF
Instant download
This website is not affiliated with any governmental entity
Public form

Description

Chapter 13 Model Plan (non-calculating) The Illinois Chapter 13 Model Plan (non-calculating) is a type of bankruptcy filing available for individuals in Illinois. It allows for debtors to pay their creditors through a court-approved repayment plan. The repayment plan is based on the debtor’s income, expenses, and other factors. The plan is typically over a 3-5 year period. Under the Illinois Chapter 13 Model Plan (non-calculating), debtors must make regular payments to a court-appointed trustee, who then distributes the money to creditors according to the approved repayment plan. The payments are typically made on a biweekly or monthly basis. The Illinois Chapter 13 Model Plan (non-calculating) also allows for debtors to discharge certain types of debt. This includes credit card debt, medical bills, personal loans, and other unsecured debt. It also allows for debtors to keep certain assets, such as a home or vehicle, that would otherwise be liquidated in a Chapter 7 bankruptcy. There are two types of Illinois Chapter 13 Model Plan (non-calculating): the Standard Plan and the Modified Plan. The Standard Plan is the more common of the two, and it requires debtors to pay a percentage of their unsecured debt. The Modified Plan is better suited for debtors with more challenging financial circumstances, and it requires debtors to pay all of their unsecured debt.

The Illinois Chapter 13 Model Plan (non-calculating) is a type of bankruptcy filing available for individuals in Illinois. It allows for debtors to pay their creditors through a court-approved repayment plan. The repayment plan is based on the debtor’s income, expenses, and other factors. The plan is typically over a 3-5 year period. Under the Illinois Chapter 13 Model Plan (non-calculating), debtors must make regular payments to a court-appointed trustee, who then distributes the money to creditors according to the approved repayment plan. The payments are typically made on a biweekly or monthly basis. The Illinois Chapter 13 Model Plan (non-calculating) also allows for debtors to discharge certain types of debt. This includes credit card debt, medical bills, personal loans, and other unsecured debt. It also allows for debtors to keep certain assets, such as a home or vehicle, that would otherwise be liquidated in a Chapter 7 bankruptcy. There are two types of Illinois Chapter 13 Model Plan (non-calculating): the Standard Plan and the Modified Plan. The Standard Plan is the more common of the two, and it requires debtors to pay a percentage of their unsecured debt. The Modified Plan is better suited for debtors with more challenging financial circumstances, and it requires debtors to pay all of their unsecured debt.

How to fill out Illinois Chapter 13 Model Plan (non-calculating)?

Handling legal paperwork requires attention, precision, and using well-drafted templates. US Legal Forms has been helping people nationwide do just that for 25 years, so when you pick your Illinois Chapter 13 Model Plan (non-calculating) template from our service, you can be sure it complies with federal and state laws.

Dealing with our service is easy and fast. To get the necessary document, all you’ll need is an account with a valid subscription. Here’s a brief guide for you to get your Illinois Chapter 13 Model Plan (non-calculating) within minutes:

  1. Remember to attentively look through the form content and its correspondence with general and law requirements by previewing it or reading its description.
  2. Search for an alternative formal template if the previously opened one doesn’t match your situation or state regulations (the tab for that is on the top page corner).
  3. ​Log in to your account and save the Illinois Chapter 13 Model Plan (non-calculating) in the format you prefer. If it’s your first experience with our website, click Buy now to continue.
  4. Register for an account, choose your subscription plan, and pay with your credit card or PayPal account.
  5. Decide in what format you want to save your form and click Download. Print the blank or add it to a professional PDF editor to prepare it paper-free.

All documents are drafted for multi-usage, like the Illinois Chapter 13 Model Plan (non-calculating) you see on this page. If you need them in the future, you can fill them out without re-payment - just open the My Forms tab in your profile and complete your document whenever you need it. Try US Legal Forms and prepare your business and personal paperwork quickly and in total legal compliance!

Trusted and secure by over 3 million people of the world’s leading companies

Chapter 13