Chapter 13 Bankruptcy: Creditor’s Claims and Debtor’s Repayment Plan

As Tampa bankruptcy lawyers can tell you, creditors have 90 days from the date of the meeting of creditors to file their claims. There are four kinds of claims that are exceptions to the 90-day rule. The court clerk will provide notice of these. Following is a list of the four exceptions:

  • Claims that come up in connection with the rejection of contracts that have not yet been fulfilled.
  • Claims on behalf of incompetents and minors.
  • Governmental unit’s claims.
  • Unsecured claims that are the result of judgments that have been      filed 30 days after the expiration of the appeals period.

A trustee, interested party or debtor can file a claim on behalf of a creditor who has not filed a claim during the 90-day period. In the event that a creditor files a claim at a later date, the creditor’s claim will be given priority. Under Chapter 13 statutes, unsecured creditors are a disadvantage under secured creditors.

Debt Repayment Plan

Within 20 to 45 days following the meeting of creditors, the confirmation hearing for your Chapter 13 repayment plan will take place, unless the court issues a different order. You will receive notice at least 28 days prior to the date of the confirmation hearing. The notification will be issued by the clerk of the court. In addition to notice of the confirmation hearing date, you will receive a due-date for all objections. If the trustee is in favor of confirmation and there have been no objections filed, the repayment plan may be confirmed by the court without a hearing. However, the court has the discretion to hold the confirmation hearing, say Tampa bankruptcy lawyers.
Prior to the confirmation, you will have to fulfill the following requirements:
File Chapter 13 bankruptcy in good faith;

  • Be up-to-date on all of your domestic support requirements such as child support, alimony or other divorce-related debts. You will also need to file a certificate attesting to the fact that you are current on all domestic support obligations;
  • Be current on all tax returns;
  • Attend an approved course on financial management; and
  • Provide the court with proof of attendance.

Your bankruptcy case might be dismissed if you fail to comply with any of the above requirements.
Once the plan is confirmed, you and your creditors are bound to the terms of the plan. If any filed document, or even the confirmation itself, was obtained by way of fraud or other illegal means, the confirmation can be revoked on request of any party. A party wishing to revoke an order of confirmation has 180 days after the order of confirmation has been entered to file his or her request.
Creditors are permitted to object to the plan, but they are not allowed to vote on it, according to Tampa bankruptcy lawyers. A lien might be avoided by a motion if the collateral for the claim is exempt property.

Hiring Tampa Bankruptcy Lawyers

To speak with a lawyer about your Chapter 13 bankruptcy, please call the office of Robert Savage at 813-200-0013.

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