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.
Keywords: Kings New York, order, debtor, employer, remit deductions, income, trustee Description: The Kings New York Order Requiring Debtor's Employer to Remit Deductions from a Debtor's Income to Trustee is a legal directive issued by a court in Kings County, New York. This order pertains to individuals who are in debt and have filed for bankruptcy. It requires their employer to withhold a portion of their income and remit it to the trustee responsible for overseeing the bankruptcy proceedings. The purpose of this order is to ensure that the debtor's income is properly distributed among their creditors as part of the debt repayment plan approved by the court. By directly involving the debtor's employer, this order streamlines the collection process, ensuring timely and consistent payments towards the outstanding debts. There may be different types of Kings New York Orders Requiring Debtor's Employer to Remit Deductions from a Debtor's Income to Trustee, depending on the specific circumstances of the debtor's bankruptcy case. Some types may include: 1. Wage Deduction Order: This type of order specifies the exact amount or percentage that the employer must withhold from the debtor's income and remit to the trustee. 2. Tax Withholding Order: In certain cases, the court may authorize the debtor's employer to withhold a portion of the debtor's income tax refunds and redirect them to the trustee. 3. Support Order: If the debtor owes unpaid child support or alimony, the court may issue an order requiring the employer to remit deductions from the debtor's income towards these obligations. 4. Garnishment Order: In cases where the debtor has significant outstanding debts, the court may issue a garnishment order, allowing the creditor(s) to collect a portion of the debtor's income directly from the employer. It's important to note that the specifics of the Kings New York Order Requiring Debtor's Employer to Remit Deductions from a Debtor's Income to Trustee may vary based on the individual circumstances of the bankruptcy case and the applicable laws in New York. It is advisable for debtors and employers to seek legal counsel to understand and comply with the requirements of these orders accurately.Keywords: Kings New York, order, debtor, employer, remit deductions, income, trustee Description: The Kings New York Order Requiring Debtor's Employer to Remit Deductions from a Debtor's Income to Trustee is a legal directive issued by a court in Kings County, New York. This order pertains to individuals who are in debt and have filed for bankruptcy. It requires their employer to withhold a portion of their income and remit it to the trustee responsible for overseeing the bankruptcy proceedings. The purpose of this order is to ensure that the debtor's income is properly distributed among their creditors as part of the debt repayment plan approved by the court. By directly involving the debtor's employer, this order streamlines the collection process, ensuring timely and consistent payments towards the outstanding debts. There may be different types of Kings New York Orders Requiring Debtor's Employer to Remit Deductions from a Debtor's Income to Trustee, depending on the specific circumstances of the debtor's bankruptcy case. Some types may include: 1. Wage Deduction Order: This type of order specifies the exact amount or percentage that the employer must withhold from the debtor's income and remit to the trustee. 2. Tax Withholding Order: In certain cases, the court may authorize the debtor's employer to withhold a portion of the debtor's income tax refunds and redirect them to the trustee. 3. Support Order: If the debtor owes unpaid child support or alimony, the court may issue an order requiring the employer to remit deductions from the debtor's income towards these obligations. 4. Garnishment Order: In cases where the debtor has significant outstanding debts, the court may issue a garnishment order, allowing the creditor(s) to collect a portion of the debtor's income directly from the employer. It's important to note that the specifics of the Kings New York Order Requiring Debtor's Employer to Remit Deductions from a Debtor's Income to Trustee may vary based on the individual circumstances of the bankruptcy case and the applicable laws in New York. It is advisable for debtors and employers to seek legal counsel to understand and comply with the requirements of these orders accurately.
