Get the free DEBTOR'S(S') CHAPTER 13 PLAN AND MOTION FOR - txnb uscourts

IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF TEXAS FORT WORTH DIVISION In re: Debtor(s) Phone No: * * * Case No: Date: Chapter: 13 Last 4 # EIN: Judge: DEBTOR IS ') CHAPTER 13

How to fill out debtorss chapter 13 plan

How to fill out debtor's Chapter 13 plan

1. Gather all necessary financial documents: Start by collecting all relevant financial documents, such as income statements, expenses, asset values, and debts. This will help you accurately complete the Chapter 13 plan.
2. Consult with a bankruptcy attorney: It is highly recommended to seek legal advice before filling out the debtor's Chapter 13 plan. A bankruptcy attorney will provide guidance and ensure that you adhere to all legal requirements.
3. Understand your financial situation: Before completing the plan, assess your income, expenses, and debts. This will help you determine how much you can reasonably afford to repay each month under Chapter 13.
4. Start with the basics: Begin filling out the debtor's Chapter 13 plan by providing your personal information, including name, address, and contact details. Ensure accuracy and consistency throughout the form.
5. List your debts: Include all your debts, including secured debts (e.g., mortgage, car loans) and unsecured debts (e.g., credit card debt, medical bills). Provide details such as the creditor's name, account number, and amount owed.
6. Detail your income: Specify your sources of income, including employment wages, self-employment earnings, rental income, etc. Be thorough and accurate in reporting your income, as it will determine your repayment plan.
7. Outline your expenses: Itemize your monthly expenses, including housing costs, utilities, transportation, groceries, insurance, and other necessary expenses. Validate your expenses with supporting documents, such as bills and receipts.
8. Assess disposable income: Calculate your disposable income by subtracting your monthly expenses from your monthly income. It represents the amount you can allocate towards repaying your creditors through the Chapter 13 plan.
9. Propose a repayment plan: Based on your disposable income, create a feasible repayment plan that satisfies the requirements of Chapter 13. The plan should outline how much you will pay each month to your creditors over a specified period, typically three to five years.
10. File the debtor's Chapter 13 plan: Once you have completed the form, review it carefully for accuracy and completeness. Then, with the assistance of your bankruptcy attorney, file the plan with the bankruptcy court.

Who needs debtor's Chapter 13 plan?

1. Individuals with regular income: Chapter 13 bankruptcy is designed for individuals who have a reliable source of income and can make regular payments towards their debts. It allows them to reorganize their finances without losing their assets.
2. Individuals facing foreclosure: If you are at risk of losing your home to foreclosure, filing a Chapter 13 plan can help you catch up on missed mortgage payments while keeping your property.
3. Those with significant non-exempt assets: Chapter 13 allows debtors to retain their non-exempt assets by repaying their debts over time. This is particularly beneficial for individuals who own valuable assets they wish to protect.
4. Those ineligible for Chapter 7 bankruptcy: Individuals who do not meet the eligibility criteria for Chapter 7 bankruptcy, such as having too high of an income or having previously filed for Chapter 7 within a certain timeframe, may opt for Chapter 13 as an alternative.

Remember, the information provided above is for informational purposes only and should not replace professional legal advice. Consult with a bankruptcy attorney for personalized guidance regarding your specific situation.

For pdfFiller’s FAQs

What is debtorss chapter 13 plan?

Debtor's chapter 13 plan is a repayment plan that allows individuals with regular income to restructure their debts and repay them over a period of time.

Who is required to file debtorss chapter 13 plan?

Individuals with regular income who have unsecured debts less than $419,275 and secured debts less than $1,257,850 are required to file debtor's chapter 13 plan.

How to fill out debtorss chapter 13 plan?

Debtor's chapter 13 plan can be filled out with the assistance of a bankruptcy attorney or by following the instructions provided by the bankruptcy court.

What is the purpose of debtorss chapter 13 plan?

The purpose of debtor's chapter 13 plan is to provide individuals with a structured way to repay their debts while keeping their assets.

What information must be reported on debtorss chapter 13 plan?

Debtor's chapter 13 plan must include details of the debtor's income, expenses, debts, and proposed repayment plan.

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