The timeline can vary, but typically it takes a few months from filing to confirmation. Patience is key, as good things take time!
Your plan should detail how you’ll deal with your debts, your income, and provide a timeline for payments. It's all about showing you have a solid path forward!
Yes, if circumstances change, you can ask the court to modify your plan. Just be ready to explain the reasons behind your request!
Missing a payment could lead to trouble, as it may jeopardize your plan. It’s important to communicate with your attorney and possibly the court right away.
Once a plan is confirmed, it sets the stage for how you will repay your debts over a certain period, typically three to five years.
Generally, Chapter 12 is for family farmers and fishermen with regular annual income. If you're in that boat, you may qualify!
It's a legal approval that helps farmers or fishermen reorganize their debts under the bankruptcy code, allowing them to continue their operations while paying off their obligations.