The Chapter 13 Process (Part 2)
By Douglas Jacobs, California Bankruptcy Attorney on Sep 18, 2007 in Chapter 13 Bankruptcy
In part 1 we looked at getting all of the relevant information to the attorney. He or she will then prepare the petition, schedules, statement of financial affairs and a plan. All of these things are needed to file the case. (In an emergency a quick file can be done with some of these documents, but the rest will be due within 15 days or the case can get dismissed.)
The petition, schedules and statement of financial affairs are important, but the plan is the key to a successful Chapter 13. It will describe the types of debts you have and how each is to be treated. Most importantly, the plan includes the amount you will have to pay each month and the length of the process.
The actual form of the plan can differ greatly from district to district throughout the country. In some areas, the court has a standardized document that is used, and in some districts, the attorneys are free to come up with their own variations so long as they meet the legal requirements.
Your Chapter 13 will work only if you have a good plan carefully crafted for your situation. A competent bankruptcy attorney practicing in your area is not only a good idea, it’s usually essential.
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