A Kentucky Probation Order Regarding Chapter 13 Plan Payments is a court order issued by a bankruptcy judge in the U.S. state of Kentucky when a debtor enters into a Chapter 13 bankruptcy. The order requires that the debtor make regular payments to the Chapter 13 trustee to pay off their debts over a three- to five-year period. The order also provides for the payment of fees and costs associated with the bankruptcy case. These fees and costs can include filing fees, attorney's fees, and trustee fees, and may also include payments to secured creditors. The order also typically includes a payment plan that outlines when and how much the debtor must pay. There are two types of Kentucky Probation Order Regarding Chapter 13 Plan Payments: 1. Interim Order: This order is issued at the outset of the Chapter 13 bankruptcy and outlines the initial payment plan and fees. 2. Final Order: This order is issued after all debts have been paid in full and confirms the completion of the Chapter 13 bankruptcy.
Kentucky Probation Order Regarding Chapter 13 Plan Payments
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How to fill out Kentucky Probation Order Regarding Chapter 13 Plan Payments?
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FAQ
This is an Official Bankruptcy Form. Official Bankruptcy Forms are approved by the Judicial Conference and must be used under Bankruptcy Rule 9009.
A Chapter 13 confirmation hearing is a court proceeding at which a bankruptcy judge decides whether someone has sufficient income to qualify for Chapter 13 bankruptcy. At the confirmation hearing, the judge reviews the filer's proposed plan to repay creditors.
If the Court does not confirm the Chapter 13 plan you have proposed, it will usually give the reasons for such disapproval so that the plan may be appropriately modified, converted to a Chapter 7 or dismissed. Once a case is dismissed, your creditors may again pursue the payoff of your debts.
Is there a grace period for Chapter 13 payments? A Chapter 13 payment plan doesn't have a grace period. Thirty days after your Chapter 13 filing date, you are required to begin making plan payments to the bankruptcy trustee for your case.
What If I Receive a Bonus During the Chapter 13 Process? You must report your bonuses to your bankruptcy trustee. If the bonus amount is insignificant, you'll likely be able to keep it, but a substantial bonus will affect your repayment plan.
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.
An order confirming the chapter 13 plan is a Bankruptcy judge's approval of the Debtor's proposed chapter 13 repayment plan. For more information, see 11 U.S.C. §1325 .