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 Bexar Texas Order Requiring Debtor's Employer to Remit Deductions from a Debtor's Income to Trustee is a legal document issued by a court in Bexar County, Texas. This order mandates that an employer deduct a specific amount from a debtor's income and remit it directly to the trustee appointed in a bankruptcy case. This type of order is typically associated with bankruptcy proceedings, where an individual or business files for bankruptcy to seek relief from overwhelming debt. The order serves as a mechanism to ensure that the debtor's obligations are met and the trustee can effectively administer the bankruptcy estate. In Bexar County, there are various types of orders that may be issued to require an employer to remit deductions from a debtor's income to the trustee. Some of these orders may include: 1. Wage Garnishment Order: This type of order allows the trustee to collect a portion of the debtor's wages directly from their employer. The employer is legally bound to deduct the specified amount from the debtor's paycheck and remit it to the trustee. 2. Income Withholding Order: This order is commonly used in support cases, such as child support or alimony. It requires an employer to withhold a specific amount from the debtor's income and forward it to the trustee for distribution to the appropriate parties. 3. Bank Account Levy Order: In certain situations, the trustee may obtain an order that enables them to levy the debtor's bank account. This allows the trustee to seize funds directly from the debtor's account and use them to satisfy debts owed in the bankruptcy case. 4. Property Lien Order: If the debtor owns real property in Bexar County, the trustee may seek an order to place a lien on the property. This order ensures that any proceeds from the sale of the property will go to the bankruptcy estate rather than the debtor. Please note that these examples may not be an exhaustive list of the specific types of orders that can be issued in Bexar County, and the specific terminology may vary. However, they provide a general understanding of the various mechanisms through which a debtor's income can be deducted and remitted to the trustee in Bexar County, Texas.A Bexar Texas Order Requiring Debtor's Employer to Remit Deductions from a Debtor's Income to Trustee is a legal document issued by a court in Bexar County, Texas. This order mandates that an employer deduct a specific amount from a debtor's income and remit it directly to the trustee appointed in a bankruptcy case. This type of order is typically associated with bankruptcy proceedings, where an individual or business files for bankruptcy to seek relief from overwhelming debt. The order serves as a mechanism to ensure that the debtor's obligations are met and the trustee can effectively administer the bankruptcy estate. In Bexar County, there are various types of orders that may be issued to require an employer to remit deductions from a debtor's income to the trustee. Some of these orders may include: 1. Wage Garnishment Order: This type of order allows the trustee to collect a portion of the debtor's wages directly from their employer. The employer is legally bound to deduct the specified amount from the debtor's paycheck and remit it to the trustee. 2. Income Withholding Order: This order is commonly used in support cases, such as child support or alimony. It requires an employer to withhold a specific amount from the debtor's income and forward it to the trustee for distribution to the appropriate parties. 3. Bank Account Levy Order: In certain situations, the trustee may obtain an order that enables them to levy the debtor's bank account. This allows the trustee to seize funds directly from the debtor's account and use them to satisfy debts owed in the bankruptcy case. 4. Property Lien Order: If the debtor owns real property in Bexar County, the trustee may seek an order to place a lien on the property. This order ensures that any proceeds from the sale of the property will go to the bankruptcy estate rather than the debtor. Please note that these examples may not be an exhaustive list of the specific types of orders that can be issued in Bexar County, and the specific terminology may vary. However, they provide a general understanding of the various mechanisms through which a debtor's income can be deducted and remitted to the trustee in Bexar County, Texas.
