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Posted On: August 19, 2010 by Scott Sagaria

Chapter 13 Bankruptcy FAQ

A San Jose bankruptcy attorney provides a
Chapter 13 Bankruptcy FAQ

Chapter 13 bankruptcy can be a confusing chapter to file under. Must I have disposable income at the end of the month in order to qualify for a Chapter 13 bankruptcy? Within schedules I and J there must be enough excess income to at least fund the Chapter 13 plan. What does that Chapter 13 plan consist of? The Chapter 13 plan is based upon a debtor’s disposable monthly income through the means test. If the means test shows no disposable monthly income then the plan will fund 0% of the unsecured creditors. The debtor will pay back taxes, arrears, and automobile payments through the plan. The rest will likely be paid outside the plan. What is a confirmation hearing? A confirmation hearing is a court hearing where a Chapter 13 debtor submits a proposed plan of payments to their creditors and a hearing is held to make sure that all secured creditors are adequately protected. How long is the average Chapter 13 plan? The average Chapter 13 plan is 5 years, but they can be as short as 3 years.

If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Jose and the South Bay!

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Posted In: Chapter 13 Bankruptcy

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