At any point before confirmation, you may modify your Chapter 13 bankruptcy repayment plan. The modified plan just has to contain the essential terms. A bankruptcy attorney in Lake County can assist you to ensure that your case isn’t delayed.
Once confirmation has occurred, a Chapter 13 repayment plan may be modified at the request of you, your trustee or by the holder of an unsecured claim. A hearing will occur, and the request must be approved by the court. Whoever is seeking the modification must provide all creditors and the trustee with at least 21 days’ notice of the impending hearing, and a copy of the modified plan must be included along with the notice. An objection may be filed by any party of interest, and it must be served on the trustee, the debtor and on all creditors. It is permissible to reduce the required payments by the amount you spend to buy health insurance for you and your family. Before incurring a new debt after the approval of your plan, you must receive permission from the trustee.
A court motion is needed to amend or suspend payments from a confirmed plan. The request may be made as long as the suspension won’t extend the plan by more than 60 months. To amend or suspend your payments, your financial circumstances must have changed, and the change must be outlined in the motion papers. You must attach proof of the change in circumstances to the motion papers along with updated versions of Schedules I and J. Also, a proposed amended plan must be included. In some jurisdictions, the Chapter 13 trustee must approve the modification. Copies of the motion papers need to be served on the trustee and all creditors who will be adversely affected by the modification or if the suspension will exceed 90 days. Your bankruptcy attorney in Lake County may request supplemental fees for modifying your repayment plan.
A bankruptcy may give you the fresh financial start you need. Contact Merideth Nagel, P.A., Attorney at Law at 352-404-4634.
Serving West Orange County, Lake County, Sumter County & Marion County
The more I get to know her the more convinced I am that she is the right attorney for me. The compassion and integrity I have seen is quite remarkable and I highly recommend you use her office to service… ~ Kelly,
Ms. Nagel represented my wife and I in a bankruptcy case and also in a recent real estate transaction. I felt compelled to share our experience. Ms Nagel and all of her staff handled everything in a very professional matter… ~ Mike,
Merideth Nagel has been a help to me, over the last 10 years, for multiple legal issues! As her client, and as a realtor who utilizes her real estate and title services, Merideth, along with her phenomenal staff, has afforded… ~ Tiki Jackson,
“If it weren't for Merideth Nagel and her top-notch team of seasoned professionals, I shudder to think where my family would be today. At this firm, you are not a name, a face, a case number, or a quagmire. You… ~ Heather, Clermont
“Merideth and her team have been a real blessing to me over the years! She helped me with real estate several times and estate planning. I can recommend her with full confidence!” ~ Nancy, Orlando
“We utilized Nagel Law to assist us with a real estate transaction a little over a year ago. Merideth and her entire staff treated us with the utmost professionalism as well as eased our minds pertaining to this transaction. We… ~ Lynette, Orlando