Court of Filing
A chapter 13 case begins by filing a petition with the bankruptcy court serving the area where the debtor has a domicile or residence.
2What is needed to be filed?
Unless the court orders otherwise, the debtor must also file with the court: (1)schedules of assets and liabilities; (2)a schedule of current income and expenditures; (3)a schedule of executory contracts and unexpired leases; and (4)a statement of financial affairs. 3File debt repayment plan
The debtor must also file
(1)a certificate of credit counseling and a copy of any debt repayment plan developed through credit counseling;
(2)evidence of payment from employers, if any, received 60 days before filing;
(3)a statement of monthly net income and any anticipated increase in income or expenses after filing; and a record of any interest the debtor has in federal or state qualified education or tuition accounts.
4Filing of Tax details The debtor must provide the chapter 13 case trustee with a copy of the tax return or transcripts for the most recent tax year as well as tax returns filed during the case (including tax returns for prior years that had not been filed when the case began).
5Joint petition or individual petitions for husband and wife A husband and wife may file a joint petition or individual petitions.
6Fee Payment The court charges filing fee and a miscellaneous administrative fee. Normally the fees must be paid to the clerk of the court upon filing. With the court's permission, however, they may be paid in installments.
7Fee Payment in installments The number of installments is limited to four, and the debtor must make the final installment no later than 120 days after filing the petition. For cause shown, the court may extend the time of any installment, as long as the last installment is paid no later than 180 days after filing the petition. The debtor may also pay an additional administrative fee in installments. If a joint petition is filed, only one filing fee and one administrative fee are charged.
8Dismissal of the case for non-payment of fees Debtors should be aware that failure to pay these fees may result in dismissal of the case.
9Compile all financial details
In order to complete the Official Bankruptcy Forms that make up the petition, statement of financial affairs, and schedules, the debtor must compile the following information:
1.A list of all creditors and the amounts and nature of their claims; 2.The source, amount, and frequency of the debtor's income; 3.A list of all of the debtor's property; and 4.A detailed list of the debtor's monthly living expenses, i.e., food, clothing, shelter, utilities, taxes, transportation, medicine, etc.
10The information regarding spouse's financial details must Married individuals must gather this information for their spouse regardless of whether they are filing a joint petition, separate individual petitions, or even if only one spouse is filing. In a situation where only one spouse files, the income and expenses of the non-filing spouse is required so that the court, the trustee and creditors can evaluate the household's financial position.
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Disclaimer:
This article is intended for general information and the readers are advised to consult their legal counsel before acting on anything contained herein.
John M. Crane:
John M. Crane, P.C. is a full-service law office with a practice focused on Foreclosure Defense and Consumer Bankruptcy. For any repayment restructuring help and suggestions, you can contact Attorney John at:
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