This is a Chapter 13 Plan. It outlines how the Debtor intends to pay back portions of his/her debt and must be sent to all named Creditors.
Indiana Chapter 13 Plan
Category:
State:
Indiana
Control #:
IN-BKR-800N
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Word;
PDF;
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FAQ
If you wish to object to an Indiana Chapter 13 plan, you must file a written objection with the bankruptcy court. Be sure to explain your reasons for the objection clearly and concisely. It's important to follow court procedures and attend the scheduled hearing regarding your objection. Legal assistance can help you navigate this process smoothly.
The difference between your income on Schedule I and your expenses on Schedule J will be your Chapter 13 plan payment. Your unsecured creditors will receive a percentage of the disposable income that remains after secured and priority creditors receive payment.
Before the court confirms (approves) your Chapter 13 repayment plan, you must show that it represents your "best efforts" to pay back creditors. It's also called the disposable income test because you must pay all of your disposable income at a minimum.
Debts dischargeable in a chapter 13, but not in chapter 7, include debts for willful and malicious injury to property (as opposed to a person), debts incurred to pay nondischargeable tax obligations, and debts arising from property settlements in divorce or separation proceedings.
In Chapter 13 bankruptcy, you pay your unsecured creditors an amount between 0 and 100% of what you owe them. The exact amount is depends on these rules: (1) The minimum amount you must pay is equal to the amount your unsecured creditors would have received had you filed for Chapter 7 bankruptcy.
The Overall Chapter 13 Average Payment. The average payment for a Chapter 13 case overall is probably about $500 to $600 per month. This information, however, may not be very helpful for your particular situation.