SPARC Forums
Main Forums => Dear Socrateaser => Topic started by: reagantrooper on Aug 20, 2004, 07:09:28 AM
Soc,
I am on the verge of filing Chapter 13.
1. How is it determined what each crediter wil get!
2. Who decides what i will pay each month?
3. Is there a formula and or gudline they must use?
Thanks!!!
>1. How is it determined what each crediter wil get!
See #2.
>
>2. Who decides what i will pay each month?
You submit a plan to the court and the court must agree to it.
>
>3. Is there a formula and or gudline they must use?
I'm not a bankruptcy attorney. There is no statutory formula, as far as I know, but I imagine that there are customary plans.
Why are you selecting CH. 13?
>>1. How is it determined what each crediter wil get!
>
>See #2.
>>
>>2. Who decides what i will pay each month?
>
>You submit a plan to the court and the court must agree to
>it.
>
>>
>>3. Is there a formula and or gudline they must use?
>
>I'm not a bankruptcy attorney. There is no statutory formula,
>as far as I know, but I imagine that there are customary
>plans.
>
>Why are you selecting CH. 13?
Soc:
Thanks for the info. I am selecting 13 because I have some assets that I want to keep. The attorney I spoke with suggest this is the best way to do this.
I still need to speak with a few more attorneys before I decide for sure.