What is a Chapter 13 Plan?

This is a plan prepared by your attorney in which the method and amount of repayment of your debts is outlined. The ultimate amount to be repaid is dependent upon your assets, disposable income, secured debt, and arrears.

The Plan. Within 14 days after filing a Chapter 13 Petition, we will prepare and file a Chapter 13 Plan which will propose a plan to pay your creditors on a monthly basis through a single monthly payment to the Chapter 13 Trustee. The Plan and the amount of your monthly payment to the Trustee is based on the income and expenses you provide to us. Failure to provide us with accurate information may lead to an adversary proceeding and possibly prevent you from obtaining a discharge. The Chapter 13 Plan will include all of your regular monthly payments on secured items plus an amount for attorneys fees, arrearage on each account, trustee’s fees, and administration fees. You must show you have the ability to make these payments on the income and expense Schedules submitted with the Petition. You are required to review and sign your Plan before it is submitted to the Court.

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