This form, a Chapter 13 Plan, is for use in a federal bankruptcy proceeding in the designated state and district. Available in Word or pdf format.
This form, a Chapter 13 Plan, is for use in a federal bankruptcy proceeding in the designated state and district. Available in Word or pdf format.
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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.
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.
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.
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.
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.
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.
Debts dischargeable in a chapter 13, but not in chapter 7, include debts for willful and malicious injury to property (as opposed to a person), debts incurred to pay nondischargeable tax obligations, and debts arising from property settlements in divorce or separation proceedings.