The Kentucky Chapter 13 Certification of Plan Completion and Request for Discharge is a legal form used to notify the court in Kentucky that a debtor has completed all the requirements of their Chapter 13 bankruptcy plan. This form is typically used by debtors to request a discharge of their remaining debts, and to certify that their plan was completed in full. This form must be filed in the United States Bankruptcy Court for the Eastern District of Kentucky. There are two types of Kentucky Chapter 13 Certification of Plan Completion and Request for Discharge: 1. Certification of Plan Completion and Request for Discharge: This form is used by debtors to certify that they have completed all the requirements of their Chapter 13 bankruptcy plan and to request a discharge of their remaining debts. 2. Certification of Plan Completion and Request for Dismissal: This form is used by debtors to certify that they have completed all the requirements of their Chapter 13 bankruptcy plan and to request a dismissal of their case.
Kentucky Chapter 13 Certification of Plan Completion And Request For Discharge
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How to fill out Kentucky Chapter 13 Certification Of Plan Completion And Request For Discharge?
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FAQ
Why do roughly 2 out of every 3 Chapter 13 cases fail? Well, to get a discharge of your debts, you need to complete a 3-5 year repayment plan. And most plans are 5 years long. Only at the end of the plan will the remainder of some debts be forgiven.
For restitution, or damages, awarded in a civil action against the debtor as a result of willful or malicious injury by the debtor that caused personal injury to an individual or the death of an individual.
After receiving all required payments under the plan (including any tax refunds owed) and completing an audit to determine that all amounts owed were received, the Chapter 13 Trustee will file a Certificate of Final Payment with the Bankruptcy Court.
About 45 days after you've received your discharge, you will receive a document called a Final Decree. It's the document that officially closes your case. Once this document is received, you are no longer in bankruptcy.
A Chapter 13 discharge occurs once a payment plan has been completed. Bankruptcy enables individuals with regular income to work with their creditors and the courts to develop a payment plan and restructure their debt. This is an advantage to most individuals over liquidation under the chapter 7 bankruptcy.
The discharge releases the debtor from all debts provided for by the plan or disallowed (under section 502), with limited exceptions. Creditors provided for in full or in part under the chapter 13 plan may no longer initiate or continue any legal or other action against the debtor to collect the discharged obligations.
Since a chapter 12 or chapter 13 plan may provide for payments to be made over three to five years, the discharge typically occurs about four years after the date of filing.
Once you've completed your Chapter 13 repayment plan, most remaining nonpriority unsecured debt balances will get discharged. Student loan balances are a notable exception?you'll remain responsible for those (at least for the present). Student loans fall into the category of nonpriority unsecured debts.
