ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Chapter 13 Bankruptcy Rules

Updated on April 12, 2011

There are certain Chapter 13 Bankruptcy rules and regulations that you need to follow while filing for bankruptcy. Bankruptcy law is basically a set of federal statutes and laws that are governed by title 11 of United States and their bankruptcy code. If the court provides protection or an automatic stay then a term no longer than five years and no shorter than three years cannot be started by creditors.

The debtor does have the sheer responsibility for filing the proper plan. Though the majority of plans are readily filed at the initiation of a petition, the debtor does have the time of up to 2 weeks from filing of petition to file the plan. But if the court allows the debtor to act otherwise, debtor has to submit the plan that specifies the amount to be paid to each creditor and the terms. The lender should object to the agreement if it they feel it does not fix the issue.

The debtor does have a set of mandatory requirements to fulfill. These are that the plans should provide for the intake of all future earnings, to the trustee, that might be necessary to fund this plan, the plan should provide the full payment on a payment plan basis of priority claims unless and until the claim holder agrees to some different treatment, the plan should not be longer than a few years, unless approved by court to extend it to not more than five years.

The debtor can work with a claim that is secured on the outside of the plan. The plan should not be confirmed unless the security claims have been provided in full. The internet revenue service should object to an agreement that does not provide complete payment for priority taxes. If IRS does not object on this and this plan gets approved without prior submission of priority taxes then IRS has the power to dismiss or modify the plan.

This helps avoiding foreclosure. Foreclosure procedure can be stopped and payments for the mortgage may be paid while being able to pay current ones on time. The secured debts, as car loans, can be extended over the entire life of this kind of plan for repayment. At times this can also result in lower amount of payments.

There is also another provision to help co-signers so as to construct on to a code. Chapter 13 is quite similar to the bill consolidation loan. Everyone is qualified for this particular chapter including those who are self-employed. There is an upper bound of over three hundred thousand dollars for debts that are unsecured and the fully secured debts should be lesser than one million.

You are not allowed to file bankruptcy provided that you already have a similar petition dismissed because of failure in following the court orders, failure to appear in front of the court in the recent 6 months past. The whole process initiates by filing a petition in the court of bankruptcy in their country.

Having all the information you can about Chapter 13 bankruptcy rules will be of help during the process. All this has to be provided along a certificate of bankruptcy counseling with any of the other remaining repayments. The borrower also has to provide the chapter 13 bankruptcy trustees with the tax return copies for some past recent period and these copies have to be presented during the case.


    0 of 8192 characters used
    Post Comment

    No comments yet.


    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at:

    Show Details
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the or domains, for performance and efficiency reasons. (Privacy Policy)
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)