Until this new courtroom offers an expansion, the fresh borrower have to file a fees package to the petition or within 2 weeks after the petition was recorded. Provided. R. Bankr. P. 3015. Plans need to be submitted getting courtroom acceptance and should promote getting costs from repaired quantity into trustee toward a regular basis, typically biweekly or monthly. The brand new trustee next directs the cash so you can creditors according to the terms of the plan, which could promote creditors below full commission to their says.

You will find three particular says: concern, secure, and you may unsecured. Top priority claims are those granted unique status by personal bankruptcy legislation, like most fees and also the can cost you out-of personal bankruptcy. (3) Shielded claims are those wherein brand new creditor gets the best get back certain possessions (i.age., the collateral) in the event the debtor doesn’t spend the money for underlying debt. Compared to safeguarded says, unsecured states are often those individuals whereby the fresh collector doesn’t have unique legal rights to collect up against types of property owned by the latest borrower.

After the fulfilling from creditors, the fresh debtor, this new section 13 trustee, and those financial institutions who would like to attend will come to judge for a paying attention on the debtor’s section thirteen repayment bundle

The plan must pay consideration claims entirely except if a particular priority creditor believes to various therapy of the fresh claim otherwise, when it comes to a domestic service obligations, unless of course the brand new borrower contributes all of the “throw away income” – discussed less than – so you’re able to a great five-season bundle.eleven U. 자세히 보기