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Discuss it first with the trustee and then file a motion to modify the plan. Unsecured creditors should not receive less than the loriginal plan, though this is not always prohibited. Copies of the motion and amended plan must be served on the trustee, US Trustee and creditors or their attorneys, or according to your local rules.
What else can I help you with?
Can you change your bankruptcy payment?
Yes, you can modify your plan payments if there is a change in your economic situation.
What can a trustee take during chapter 13 bankruptcy?
Money for your plan payment, tax refunds.
Can you pay off part of a chapter 13 bankruptcy and get on a lower payment plan?
Yes, you can potentially pay off part of a Chapter 13 bankruptcy and adjust your payment plan, but it typically requires court approval. If your financial situation changes and you can make a lump-sum payment to reduce your overall debt, you can propose a modification to your repayment plan. It's important to work closely with your bankruptcy attorney to navigate the legal requirements and ensure that any changes comply with the bankruptcy court's guidelines.
How long before you make your first bankruptcy payment under chapter 13 once you have filed?
within 30 days, you actually have to make your plan payment before your plan is approved.
Can you file bankruptcy when you debt is federal and state income taxes?
You can file bankruptcy at any time you like, but I will tell you that bankruptcy court does not have the authority to drop the taxes. The IRS or State may allow a payment plan instead of allowing them to begin confiscating property. You will still have to pay the taxes due and it may be to your benefit to work out a payment plan directly with tax department and not have to pay the legal and court fees involved with the bankruptcy.
If you have been contacted for the remaining balance and set up a payment plan what are your options if you are unable to commit to the plan?
Your options are to be sued for judgement, or file Bankruptcy or PAY. Fairly simple plan.
Will bankruptcy payment be lowered when house payment is out of default?
Yes. in support with your bankruptcy lawyers experts.
Can bankruptcy get accident plan?
Bankruptcy can get accident plan for his children?
Does interest owed to the Internal Revenue Service stop accruing during Chapter 13 bankruptcy?
Typically a Chapter 13 bankruptcy will require you to enter into a payment plan with the IRS, and interest will be frozen as of the date that you file your bankruptcy petition.
What happen if you miss a payment on a bankruptcy repayment plan?
For the best advice about the subject you should visit debtfish. They have a contact form for questions.
Can your Chapter 11 be dismissed due to plan payments?
Chapter 11 is a corporate business bankruptcy where a reorganization plan is made while operating under protection. It is not a Chapter 13 with a specific payment plan.
How do you set up a payment plan for bankruptcy?
I assume you are talking about the Chapter 13 payment plan to take care of the arrearage owed on a house or property that you own. This is set up as a Chapter 13 plan that is in a strict format set up by the court and handled by experienced attorneys. It is a monthly plan that lasts for either 3 or 5 years. You will need a lawyer to make a proper payment plan.
