After Filing Chapter 13 Bankruptcy

Answer:

When I file a Chapter 13 bankruptcy case for clients, they often wonder what’s next. What happens during the case? The answer is that, from the debtor’s standpoint, they have to keep making payments, typically once a month for five years. Before we file the case, we undertake efforts to ensure that the payment under the Chapter 13 plan is affordable. There’s also a meeting of creditors that occurs that’s required, where the trustee assigned to the case has the opportunity to ask the debtor about assets, liabilities, income and expense, and other financial information.

Ultimately, the plan is set for a confirmation hearing in which a court determines whether or not the plan should be confirmed. Chapter 13 is complex. I strongly recommend anyone considering it not file it on their own behalf but hire experienced bankruptcy counsel. I’ve been representing bankruptcy clients for the last 30 years throughout the state of Florida. I provide a free consultation. Let’s sit down and go through your finances to see whether Chapter 13 is right for you.