If you are currently in a Chapter 13 and received a year's severance from your company due to a downsize what happens to the money and the case?
Generally it would not affect the terms of the "13" if it has been approved and is already in force. The safest option would be to contact the bankruptcy trustee for specific advice on the matter.
You receive a severance now you hear that the company may file for Chapter 11 will i lose my severance pay?
There is no limit as to quantity, only spacing. If filing Chapter 7, you must wait eight years from last filing of a Chapter 7, or six years from last filing of Chapter 13. If filing a Chapter 13, you must wait four years from last filing of Chapter 7 or two years after a discharge of a previous Chapter 13 case.
Under the new bankruptcy law in effect as of October 17, 2005, Chapter 7 cannot be filed unless the debtor was discharged from the previous Chapter 7 or bankruptcy more than eight years ago. The debtor cannot file a Chapter 13 unless: (1) the debtor received a discharge under Chapter 7, 11 or 12 more than four years ago; or (2) the debtor received a discharge under Chapter 13 more than two years ago.