The Massachusetts Chapter 13 Plan and Cover Sheet is a form that debtors must fill out when filing for Chapter 13 bankruptcy in the state of Massachusetts. This form outlines the details of the debtor's repayment plan, including their total debt, total assets, and the amount of money they plan to pay to their creditors. It also includes information about the debtors' income, expenses, and any other debts they may have. The form also serves as a cover sheet when filing the plan with the court. There are two types of Massachusetts Chapter 13 Plan and Cover Sheet: the standard form and the modified form. The standard form is used by debtors who have unsecured debts, such as credit card debt, that is greater than 25% of their total debt. The modified form is used by debtors who have secured debts, such as a mortgage or car loan, or any other debts that exceed 25% of their total debt.
Massachusetts Chapter 13 Plan And Cover Sheet
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How to fill out Massachusetts Chapter 13 Plan And Cover Sheet?
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FAQ
The chapter 13 trustee both evaluates the case and serves as a disbursing agent, collecting payments from the debtor and making distributions to creditors. 11 U.S.C. § 1302(b). Filing the petition under chapter 13 "automatically stays" (stops) most collection actions against the debtor or the debtor's property.
While Chapter 7 eliminates all your debt, Chapter 13 is a repayment plan. Once you file, you'll work with a trustee to come up with a court-approved payment plan. You pay the trustee, who then pays your creditors. No more creditors calling or sending intimidating letters.
United States Trustees appoint and supervise private trustees who administer bankruptcy estates under chapters 7, 11, 12, and 13 of the Bankruptcy Code. Private trustees are not government employees.
The discharge releases the debtor from all debts provided for by the plan or disallowed (under section 502), with limited exceptions. Creditors provided for in full or in part under the chapter 13 plan may no longer initiate or continue any legal or other action against the debtor to collect the discharged obligations.
Sabrina L. McKinney Chapter 13 Trustee Montgomery AL.
For Boston cases, the Chapter 13 Trustee is Carolyn Bankowski (617) 723-1313; for Worcester cases, the Chapter 13 Trustee is David A. Mawhinney (508) 791-3300.
Chapter 13 is designed for individuals with regular income who are temporarily unable to pay their debts. Chapter 13 gives them the option to pay their debts in installments over a period of time. You are eligible for Chapter 13 if your debts do not exceed certain dollar amounts set forth in the Bankruptcy Code.
The bankruptcy trustee will typically be entitled to claim any non-exempt portion of the settlement and distribute it to creditors.