What happens if I can't pay Chapter 13 payments?

Answer If you cannot pay your scheduled payments on a Chapter 13 wage earner bankruptcy plan, you can stop making payments and have your case dismissed. Alternatively, you can file with the court to modif... Read More »

Top Q&A For: What happens if I can't pay Chapter 13 payments

What If I Am Late on My Chapter 13 Payments?

Chapter 13 bankruptcy consists of a debtor creating a payment plan for his debts. The debtor must submit monthly payments to a bankruptcy trustee for the duration of the bankruptcy case. The truste... Read More »

How to Figure Chapter 13 Payments?

Chapter 13 bankruptcy differs from other types of personal bankruptcy in that debts are restructured, rather than eliminated. As part of the Chapter 13 filing, petitioners are required to submit a ... Read More »

Can chapter 13 payments increase if your income goes up?

Since Chapter 13 bankruptcy payments are based on disposable income, any additional income could raise those payments. A good rule of thumb is to report it to your trustee if your income increases ... Read More »

Can Chapter 13 bankruptcy payments to a trustee be a tax deduction?

According to bankruptcy law firm Allmand and Lee, during a Chapter 13 bankruptcy, some payments to a trustee are tax-deductible. Permissible deductions include mortgage interest, spousal support, f... Read More »