The U.S. Bankruptcy Code also allows individual debtors who meet certain financial criteria to adopt extended time payment plans for the payment of debts. An individual debtor on a regular income may submit a plan for installment payment of outstanding debts. This is called a Chapter 13 Plan. This plan must be confirmed by the court. Once it is confirmed, debts are paid in the manner specified in the plan. After all payments called for by the plan are made, the debtor is given a discharge. The plan is, in effect, a budget of the debtor's future income with respect to outstanding debts. The plan must provide for the eventual payment in full of all claims entitled to priority under the Bankruptcy Code. The plan will be confirmed if it is submitted in good faith and is in the best interest of the creditors.
A Chapter 13 plan must provide for the submission of all or such portion of future earnings or other future income of the debtor to the supervision and control of the trustee as is necessary for the execution of the plan. After the confirmation of a Chapter 13 plan, the court may exercise its discretion and order any entity from whom the debtor receives income to pay all or part of such income to the trustee.
A North Dakota Order Requiring Debtor's Employer to Remit Deductions from a Debtor's Income to Trustee is a legal directive issued by a court in North Dakota to ensure the proper handling of a debtor's income for repayment of debts. This order compels the debtor's employer to deduct a specified amount from the debtor's income and remit it directly to the assigned trustee for distribution among the creditors. In North Dakota, there are primarily two types of orders related to a debtor's income deductions: 1. North Dakota Writ of Continuing Wage Garnishment: This order allows a creditor or trustee to continuously garnish a debtor's wages until the debt is fully satisfied. Upon issuing the writ, the debtor's employer is required by law to deduct a specific amount from the debtor's wages and promptly remit it to the trustee or creditor. This order enables a consistent and steady repayment process, ensuring creditors receive timely payments. 2. North Dakota Wage Assignment: Similar to wage garnishment, a wage assignment order also directs the debtor's employer to deduct a specific portion of the debtor's wages and remit it to the assigned trustee. However, unlike a writ of continuing wage garnishment, a wage assignment order is generally a one-time deduction from the debtor's income. These North Dakota orders are typically initiated by trustees or creditors who have obtained a judgment against a debtor. The purpose is to ensure a fair distribution of the debtor's income among the creditors and facilitate the debt repayment process. Keywords: North Dakota, order requiring debtor's employer, remit deductions, debtor's income, trustee, legal directive, wage garnishment, wage assignment, creditor, debt repayment process.A North Dakota Order Requiring Debtor's Employer to Remit Deductions from a Debtor's Income to Trustee is a legal directive issued by a court in North Dakota to ensure the proper handling of a debtor's income for repayment of debts. This order compels the debtor's employer to deduct a specified amount from the debtor's income and remit it directly to the assigned trustee for distribution among the creditors. In North Dakota, there are primarily two types of orders related to a debtor's income deductions: 1. North Dakota Writ of Continuing Wage Garnishment: This order allows a creditor or trustee to continuously garnish a debtor's wages until the debt is fully satisfied. Upon issuing the writ, the debtor's employer is required by law to deduct a specific amount from the debtor's wages and promptly remit it to the trustee or creditor. This order enables a consistent and steady repayment process, ensuring creditors receive timely payments. 2. North Dakota Wage Assignment: Similar to wage garnishment, a wage assignment order also directs the debtor's employer to deduct a specific portion of the debtor's wages and remit it to the assigned trustee. However, unlike a writ of continuing wage garnishment, a wage assignment order is generally a one-time deduction from the debtor's income. These North Dakota orders are typically initiated by trustees or creditors who have obtained a judgment against a debtor. The purpose is to ensure a fair distribution of the debtor's income among the creditors and facilitate the debt repayment process. Keywords: North Dakota, order requiring debtor's employer, remit deductions, debtor's income, trustee, legal directive, wage garnishment, wage assignment, creditor, debt repayment process.
