Chapter 13 Monthly Operating Report free printable template

IN RE: DEBTOR(S) NAMES CASE NO. XXXXXXXCHAPTER 13 MONTHLY OPERATING REPORT FOR MONTH YEAR Part A: 1. Gross Income for 12 Months Prior to Filing.$ Part B: 2. Gross Income for Month. .$ Actual Monthly

How to fill out Chapter 13 Monthly Operating Report

How to fill out Chapter 13 Monthly Operating Report

1. Gather all necessary financial documents including income statements, expense reports, and bank statements.
2. Start with the header section, filling in the debtor's name, case number, and month for which the report is being filed.
3. Provide a detailed account of income received during the reporting period, categorizing it by source.
4. List all operating expenses for the month, ensuring to categorize them accurately (e.g., utilities, rent, payroll).
5. Calculate the net income by subtracting total expenses from total income.
6. Complete the asset section by providing updated valuations of current assets.
7. Fill in the liabilities section with any new debts or changes in existing debts.
8. Review the report for accuracy and completeness, ensuring all figures are supported by documentation.
9. Sign and date the report before submitting it to the bankruptcy court and to the trustee.

Who needs Chapter 13 Monthly Operating Report?

1. Chapter 13 debtors who are in the process of reorganization and need to report their financial status.
2. The bankruptcy court to monitor compliance with the repayment plan.
3. Trustees who oversee the case and need to assess the debtor's financial position.

People Also Ask about

How is the monthly payment calculated for Chapter 13?

To calculate the total average monthly payment, add all amounts that are contractually due to each secured creditor in the 60 months after you file for bankruptcy. Then divide by 60.

What is considered disposable income in Chapter 13?

In chapter 13, "disposable income" is income (other than child support payments received by the debtor) less amounts reasonably necessary for the maintenance or support of the debtor or dependents and less charitable contributions up to 15% of the debtor's gross income.

How is disposable income calculated for Chapter 13?

Take your monthly income and deduct living expenses, priority debt payments, and secured payments. The remaining amount is your disposable income.

What happens when my Chapter 13 is paid off?

Once you have paid off all of your chapter 13 bankruptcy debts, you will go to the bankruptcy court for one last hearing — your discharge hearing. You have the option of directing your attorney to attend the hearing in your place. The bankruptcy judge will review all of your case details.

What is Form 122C?

People who are having difficulty managing their debts may be able to file Chapter 13 bankruptcy. This type of bankruptcy lasts 3-5 years, during which time you will need to make a monthly payment that will be distributed among your creditors. To file for Chapter 13, you need to file Form 122C.

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What is Chapter 13 Monthly Operating Report?

The Chapter 13 Monthly Operating Report is a document that provides a summary of a debtor's income, expenses, and financial transactions during the course of a Chapter 13 bankruptcy case.

Who is required to file Chapter 13 Monthly Operating Report?

Debtors who are undergoing Chapter 13 bankruptcy proceedings are required to file the Monthly Operating Report, particularly if they are self-employed or have significant income.

How to fill out Chapter 13 Monthly Operating Report?

To fill out the Chapter 13 Monthly Operating Report, debtors should gather financial statements such as income documents and expense records, then input this data into the appropriate sections of the report, ensuring accuracy and compliance with bankruptcy regulations.

What is the purpose of Chapter 13 Monthly Operating Report?

The purpose of the Chapter 13 Monthly Operating Report is to provide transparency regarding the debtor's financial situation to the court, creditors, and trustee while monitoring the debtor's compliance with the Chapter 13 repayment plan.

What information must be reported on Chapter 13 Monthly Operating Report?

The Chapter 13 Monthly Operating Report must include detailed information on income, expenses, assets, liabilities, and any changes in the financial situation since the last report.