File Bankruptcy Online

Determining the Chapter 13 plan payment is not easy and it is something that an attorney can help with to file bankruptcy online.  Chicago bankruptcy cases require that Form 22 is properly computed, that figure becomes the base payout of the plan.  To that is added any attorneys’ fees to be paid through the plan, mortgage arrears, priority debts, secured vehicle payments, the bankruptcy trustee’s fees, and any other expenses that need to be paid through the bankruptcy.
Ultimately, the Chapter 13 bankruptcy payment is determined by the difference between the debtors’ Schedule I income and Schedule J expenses.  As a practical matter, that difference is tweaked by the attorney to coincide with the required payout as determined by Form 22 and the Chapter 13 plan.
Case Process

Once Form 22 and the Chapter 13 Plan are in order, and the documents have been reviewed and signed by the debtor, and the Chicago bankruptcy lawyer has all the necessary information on hand, the case can be filed with the court.The debtors’ obligation to begin making their monthly plan payments begins 30 days after the case is filed.  It is wise to have the first plan payment in hand prior to filing, to ensure that the debtors’ first month is covered and to give the debtors some breathing room later on.  It also eases the confirmation process.  Most debtors will go on payroll control as well, which means that their plan payments will come directly out of their paychecks.  Payroll control is a great way to ensure that plan payments are timely and accurate, and to avoid issues with the debtors sending the required payments to the trustee in a timely manner.


Up and through the §341 Meeting, the processes in Chapter 7 and Chapter 13 are very similar.  After the §341 Meeting, the next steps are very different.  Every Chapter 13 plan must be confirmed by the court, in a hearing called Confirmation.  For a plan to be confirmed the trustee, the debtors’ attorney, and the creditors must either agree to it or any objections must be ruled on by the judge at hearing.  As a practical matter, most confirmation issues are dealt with prior to court by the parties involved.  Court hearings for confirmation generally tend to be either requests for continuances to work out terms, or entry of the order confirming the case.  It is not uncommon for the confirmation process to take several months and two to four continuances.  In rare circumstances, complicated cases may take even longer to confirm.  This is sound bankruptcy advice concerning Chapter 13.


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