P. 3015
Following the fulfilling out of creditors, the newest debtor, the new chapter 13 trustee, and those loan providers who want to sit-in may come to help you judge to own a hearing on the debtor’s chapter thirteen fees package.
Unless of course the brand new court grants an extension, the new debtor must file a payment bundle toward petition otherwise contained in this two weeks adopting the petition is actually registered. Given. R. Bankr. An agenda need to be filed to have court recognition and may offer to possess money out of repaired numbers toward trustee to the a typical base, normally biweekly otherwise monthly. The latest trustee upcoming directs the cash to help you creditors according to regards to the program, which may promote financial institutions less than full payment on their says.
You will find around three form of states: priority, protected, and you can unsecured. Consideration states are the ones granted unique status of the case of bankruptcy laws, such extremely fees as well as the will set you back off personal bankruptcy. (3) Protected claims are those for which the latest creditor provides the right restore specific property (we.e., this new guarantee) when your debtor cannot afford the underlying financial obligation. Continue reading “The fresh new Chapter thirteen Package and you may Verification Reading”