Nebraska Debt and Bankruptcy Blog

Nebraska Debt and Bankruptcy Blog

Category Archives: Chapter 13

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How Long is a Chapter 13 Case?

Posted in Chapter 13
Chapter 13 cases involve a payment plan over 3 to 5 years.  No case may be completed in less than 3 years (unless an undue hardship exists), nor may the plan extend beyond 5 years. Since 2005, the Bankruptcy Code now requires that debtors whose income is above the median family income Continue Reading

Chapter 13 Debt Limits

Posted in Chapter 13
Chapter 13 is a 3 to 5 year payment plan supervised by a bankruptcy trustee designed to reorganize relatively small debtors.  Big companies or individuals with substantial debt seeking to establish reorganization plans (as opposed to filing a Chapter 7 liquidation bankruptcy) must file Chapter 11.  The streamlined procedure of Chapter Continue Reading

CHEAP CREDIT COUNSELING CERTIFICATES

Posted in Chapter 13, Chapter 7
As part of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), Congress required that all persons take a credit counseling course before they are allowed to file a bankruptcy case, and another credit education course after the case is filed.  So, everyone filing bankruptcy these days must take Continue Reading

HOW TO CALCULATE THE CHAPTER 13 PAYMENT

Posted in Chapter 13
Chapter 13 cases provide for a monthly payment to a bankruptcy trustee over a 3 to 5 year period of time.  Generally, a person files Chapter 13 when their income is too high to qualify for Chapter 7 or if they are disqualified from filing Chapter 7 due to a prior Continue Reading

DEBT HIDDEN FROM COURT NOT DISCHARGED

Posted in Chapter 13
The Nebraska Bankruptcy Court issued a written opinion on January 6th stating that a debtor who intentionally or negligently fails to list a debt will be denied a discharge of the debt.  A Nebraska debtor who resides in Morse Bluff, Nebraska, was recently denied the right to discharge a $751 auto Continue Reading