In the case Knighton, Brent E. and Kelly L. debtors in Chapter 13 bankruptcy were forced to change their bankruptcy payment plan because they received a $2,452 tax refund. The trustee who had a policy of exempting tax refunds of $2000 or less requested that the excess $452 be used to repay creditors in the [...]

There are a few situations that may require a debtor to purchase a new car while they are in a Chapter 13 bankruptcy repayment plan. One of the best reasons is that the bankrupt debtor's car was totaled in a car accident. If a bankrupt debtor is in a Chapter 13 bankruptcy and needs to [...]

How Much You Will Pay In Chapter 13 Bankruptcy Often debtors filing for Chapter 13 bankruptcy want to know what their monthly repayment plan will cost. It's impossible for a bankruptcy attorney to give a debtor an exact dollar amount; but there are four factors that help determine how much money a Chapter 13 bankruptcy [...]

Many times debtors who are considered "above median income" by the bankruptcy courts worry about their ability to pay bankruptcy repayment plans and the length of time they will be required to remain in Chapter 13 bankruptcy . Because many "above median income" debtors lack disposable income or have experienced recent financial disruptions, their financial [...]

Are Bankruptcy Payments Tax Deductible? If you're in a Chapter 13 bankruptcy repayment plan, don't forget to carefully examine your bankruptcy payments for tax deductions. Depending on what is being repaid by the trustee in your Chapter 13 bankruptcy, you may be entitled to deduct some payments from your current taxes. For the purpose of [...]

Payroll Deduction Guidelines in Bankruptcy If you file Chapter 13 bankruptcy and are funding your bankruptcy repayment plan through payroll deduction, it is still your responsibility to make sure that payments sent, are accurate and on time. If your employer fails to withhold the payments, does not withhold enough money or sends in the payment [...]

Since the 2005 changes in bankruptcy law, including a vehicle in a Chapter 13 bankruptcy is a lot more complicated. The bankruptcy law states that if you are filing a Chapter 13 bankruptcy and you purchased your vehicle less than 910 days ago, you are required to pay the full balance and interest you owe [...]

Many debtors in Chapter 13 bankruptcy are eager to get the process done and over with. That leads them to consider their options, such as paying off their Chapter 13 bankruptcy plan early. Although a debtor can technically pay off their Chapter 13 bankruptcy plan early, the real question is...who exactly does that benefit? Filing [...]

Unsecured debt that has not been paid by a debtor will often go to court in an effort by the creditor to win a judgment. When a creditor wins a judgment against a debtor, that "unsecured debt" becomes "secured debt" and the creditor now has the right to take aggressive collection action against the debtor. [...]

If you're a debtor filing for Chapter 13 bankruptcy you will be required to take a means test to determine if there is enough disposable income to fund a Chapter 13 bankruptcy. During Chapter 13 bankruptcy, a debtor will be required to fill out a B22 form which will generate a budget, with expense categories [...]