A Wisconsin Request to Modify Confirmed Chapter 13 Plan is a legal document filed in a Wisconsin bankruptcy court to modify an existing confirmed Chapter 13 repayment plan. This type of request is often filed by debtors who need to make changes to their existing repayment plan in order to better manage their financial obligations. The modification may include reducing monthly payments, extending the repayment period, or changing the distribution of payments under the plan. There are three types of Wisconsin Request to Modify Confirmed Chapter 13 Plan: 1. Motion to Change Plan Payments: This motion is filed by the debtor to reduce the amount of the monthly payment amount owed under the plan. This motion is often used when the debtor experiences a significant change in income or financial circumstances. 2. Motion to Extend the Plan: The debtor can file this motion to extend the repayment period of the plan. This motion is often filed when the debtor is unable to make the required payments due to a decrease in income or other financial difficulty. 3. Motion to Change the Plan Distribution: This motion is filed by the debtor to change the distribution of payments under the plan. For example, the debtor may want to change the amount paid to a particular creditor or to prioritize certain debts over others.
Wisconsin Request to Modify Confirmed Chapter 13 Plan
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How to fill out Wisconsin Request To Modify Confirmed Chapter 13 Plan?
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FAQ
A motion to modify a confirmed Chapter 13 plan (also called a motion to amend confirmed plan) is filed typically by the debtor, but these motions can also be filed by the trustee or a creditor with an allowed, unsecured proof of claim. 11 U.S.C. § 1329.
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.
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.
In no case may a plan provide for payments over a period longer than five years. 11 U.S.C. § 1322(d). During this time the law forbids creditors from starting or continuing collection efforts.
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.
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 .
Once your repayment plan gets confirmed, you must continue to make timely payments to the bankruptcy trustee each month for the duration of your plan. You must also continue to make payments on debts, such as your mortgage or car payment, which you proposed to pay outside of bankruptcy.
The chapter 13 confirmation order is, in essence, a final judgment that binds each creditor to the terms stated in the chapter 13 plan. Once the bankruptcy judge issues an order confirming the plan, the creditors are just as bound by the terms of the confirmation plan as the debtor is.