Chapter 13 Bankruptcy Repayment Plans
Perhaps the most important part of Chapter 13 bankruptcy is preparing a repayment plan that is proposed to the Tennessee bankruptcy court and which must be approved in a confirmation hearing.
Experienced, Reliable And Compassionate Representation In Filing For Chapter 13 Bankruptcy In Tennessee
If you are eligible to file Chapter 13 bankruptcy, I can assist you with putting together a repayment plan and establishing a reasonable monthly payment to be paid over a 36-60-month time period. Most, but not all, debts can be incorporated into a Chapter 13 bankruptcy repayment plan,
- Credit card debt
- Tax debt
- Medical debt
- Mortgage debt
Debts are organized in order of importance:
- Debts from priority creditors, who must be paid in full
- Debts from secured creditors, who must be paid at least the value of the collateral
- Unsecured debts, which must not be paid in full
Once prepared, your repayment plan must then be approved by the Tennessee bankruptcy court in a confirmation hearing. Generally speaking, the purpose of the confirmation hearing is twofold:
- To provide the opportunity for creditors to discuss and object to certain aspects of your repayment plan
- For the court to ask any questions it may have and to ensure that all appropriate debts have been incorporated into the repayment plan
As an experienced Memphis bankruptcy attorney, I will advocate on your behalf at the confirmation hearing.
Get Bankruptcy Help From Ben Sissman, Attorney at Law
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.