Bankruptcy Plan and Confirmation Hearing

Once you attended the meeting of the creditors, your trustee may have asked you to modify your Chapter 13 bankruptcy repayment plan. Usually, modifications are needed if the trustee does not think you are being fair to your creditors by giving them more from your disposable income. A bankruptcy lawyer can help you with your plan.

Filing a Modified Plan

You can file your modified plan at any time before the confirmation hearing. The new plan must be filed with the bankruptcy court clerk, a copy to the trustee, and all of your creditors.

Common reasons to modify your plan are:

• To correct errors
• To add overlooked debts and creditors
• To reflect financial changes like a new job, job loss or inheritance
• To respond to creditors’ objections

When you modify your plan, the notice should describe your proposed modifications and identify each creditor that will be affected by your new plan. When you provide notice it must contain the last four digits of your social security number and the creditor’s account number if there is one.

Judge Approves Plan

At the confirmation hearing, a judge must approve your Chapter 13 plan for it to be enforced.

If you would like more information about what happens at a confirmation hearing or would like to find out if Bankruptcy is a good choice for you, contact a McAllen bankruptcy attorney.