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  1. #1
    Join Date
    May 2008
    Posts
    5

    Default Chapter 13 Repayments

    My question involves bankruptcy in the state of: CA

    Hi,

    I just have a couple of questions regarding a payment plan in a ch 13. We are filing at the end of July.

    1. How tight of a the new "budget" will the trustee expect? Will we have to live on beans and rice during the next 5 year?

    2. I know every case is different, but what "guidelines" should I expect during the next 5 years?

    I'm just a little nervous about the process and need some answers.

    Thanks for all your help!

    Liz

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Chapter 13 Repayments

    When you meet with your bankruptcy lawyer, I expect that your lawyer will give you forms to complete documenting your income and expenditures. That budget is relevant to how your repayment plan might be structured.

    We don't know either your income or your expenses - so take the suggestion that has repeatedly be given to you and consult a bankruptcy lawyer.

  3. #3
    Join Date
    Apr 2007
    Location
    Il.(near StL,Mo.)
    Posts
    5,252

    Default Re: Chapter 13 Repayments

    You do need to talk to a bankruptcy lawyer as suggested in this thread & the other thread that you posted. The lawyer can answer all questions that you might have.

  4. #4
    Join Date
    May 2008
    Posts
    5

    Default Re: Chapter 13 Repayments

    So sorry, I didn't realize that we were only allowed to ask one question. I thought this site was here to help people. As for my last question, it was regarding bankruptcy in general. I have since retained a lawyer and now in the process with paperwork, etc...I'm just a little nervous and was looking for some answers, but I guess I'll just have to ask more questions of my lawyer...sorry to bother you all...

  5. #5
    Join Date
    Apr 2007
    Location
    Il.(near StL,Mo.)
    Posts
    5,252

    Default Re: Chapter 13 Repayments

    It's just that we don't have full details regarding your situation (ie assets/expenses etc.) & your bankruptcy attorney will. He will be able to answer all your questions that we can't.

    It wasn't that you were a bother.

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