The chapter 13 plan provides that the debtor will pay the trustee a certain sum of money to be distributed among the creditors listed in the plan. The form must be signed by the creditor and the creditor's attorney.
South Dakota Chapter 13 Plan
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South Dakota
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SD-BKR-800
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FAQ
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.
Credit card debt. medical bills. personal loans. older nonpriority income tax obligations. utility bills, and. most lawsuit judgments.
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. It takes into account a large number of low payment amounts where low income debtors are paying very little back.
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.
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.