Bankruptcy Plan and Confirmation Hearing

Once you attended the meeting of the creditors, your trustee might have asked you to alter your Chapter 13 bankruptcy repayment plan. Typically, adjustments are needed in the event the trustee doesn’t think you’re being fair to your creditors by giving them more from your disposable income. A bankruptcy attorney may help you with your plan.

Filing a Modified Plan

You may file your altered plan at any moment before the confirmation hearing. The new plan has to be filed with the bankruptcy court clerk, a copy to the trustee, along with all your creditors.

Common Reasons to Alter Your Plan Are:

• To correct mistakes

• To add overlooked debts and creditors

• To reflect changes like a brand new job, job loss or inheritance

• To respond to creditors’ objections

Whenever you alter your plan, the note should describe your proposed adjustments and establish each creditor which will be impacted by your new plan. Whenever you supply notice it should contain the last four digits of your social security number along with the creditor’s account number if there’s one.

Judge Approves Plan 

From the confirmation hearing, attorneys must approve your Chapter 13 plan for it to be enforced.

If you would like to have more info about what happens at a confirmation hearing or would love to find out whether Bankruptcy is a fantastic option for you, contact a Galewski Law Group.

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